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Congratulations! You have won the lottery! Would you rather have $1 million at the end of each of the next 21 years or $8.82 million

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Congratulations! You have won the lottery! Would you rather have $1 million at the end of each of the next 21 years or $8.82 million today? (Assume a discount rate of 11%.) The present value, PV, of the $1 million at the end of each of the next 21 years is $ . (Round to the nearest cent.)

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