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Calculate the present value of $5 million per year, at discount rate of 11 percent, if the first payment will be received 6 years from

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Calculate the present value of $5 million per year, at discount rate of 11 percent, if the first payment will be received 6 years from now and the last payment will be received 19 years from now. Your answer should include a financial equation with parameters, algebraic equation, and answer in sequence. (1+r)-1 FVIF,+ = (1 + r) FVIFA 1 1 1 (1+r)" PVIFA, (1+r) r PVIF

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