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13 You have just won the lottery and will receive $640,000 in one year. You will receive payments for 23 years, and the payments will

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13 You have just won the lottery and will receive $640,000 in one year. You will receive payments for 23 years, and the payments will increase 3 percent per year. If the appropriate discount rate is 11 percent, what is the present value of your winnings? 0.26 points 02:06:12 Multiple Choice eBook $36,695,349 Print $58,043 References $6,568,084 $6,305,361 $36,695,349

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