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Debbie won the $15 million lottery. She is to receive $1 million a year for the next 10 years beginning one year from now, plus
Debbie won the $15 million lottery. She is to receive $1 million a year for the next 10 years beginning one year from now, plus an additional lump sum payment of $5 million after 10 years. The discount rate is 10 percent. How much cash would she need to be offered today to tempt her to take a lump-sum cash offer instead, all things equal
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