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Felix Unger just won the lottery and will receive $365,000 as the first payment one year from now. He will receive payments for 20 years.

Felix Unger just won the lottery and will receive $365,000 as the first payment one year from now. He will receive payments for 20 years. The payments will increase in value by 3 percent each year. The appropriate discount rate is 7 percent. What is the present value of Felix

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