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Congratulations! You have just won $20 million lottery. You will be paid $1 million a year for the next 20 years and you receive your

Congratulations! You have just won $20 million lottery. You will be paid $1 million a year for the next 20 years and you receive your first check today. Ignoring, for the moment, the taxes youll have to pay, what are your winnings really worth today? Assume an 7% discount rate.

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