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2. Suppose a state lottery prize of $2 million is to be paid in 25 payments of $80,000 each at the end of each of

2. Suppose a state lottery prize of $2 million is to be paid in 25 payments of $80,000 each at the end of each of the next 25 years. If money is worth 10%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.)

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