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Iris will receive $ 1 . 2 4 million in 5 0 years. The discount rate is 8 % . As an alternative, she can

Iris will receive $

1.24

million in

50

years. The discount rate is

8 % .

As an alternative, she can receive $

26, 040

today. Which should she choose? Use Appendix B to calculate the answer.

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