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A prospective client has won the lottery. They have a choice of a lump sum payment of $ 1 0 million, or 2 0 annual

A prospective client has won the lottery. They have a choice of a lump sum payment of $10 million, or 20 annual installments of $600,000. The first payment will occur immediately. What is the present value of the stream of payments if the long bond rate is 5 percent? A.3,768,894.83B.-3,768,894.83C .7,477,326.21D.-7,477,326.21

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