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Barb Muller wins the lottery. She wins $20,000 per year to be paid for 10 years. The state offers her the choice of a cash

Barb Muller wins the lottery. She wins $20,000 per year to be paid for 10 years. The state offers her the choice of a cash settlement now instead of the annual payments for 10 years.

Required:

If the interest rate is 6%, what is the amount the state will offer for a settlement today? Round your answer to the nearest cent.

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