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Iris will receive $ 1 . 2 5 million in 3 0 years. The discount rate is 1 6 % . As an alternative, she

Iris will receive $

1.25

million in

30

years. The discount rate is

16 % .

As an alternative, she can receive $

15, 000

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

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