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Jane won the $ 7 0 million lottery. She is to receive $ 1 million a year for the next 5 0 years beginning one
Jane won the $ million lottery. She is to receive $ million a year for the next years beginning one year from now, plus an additional lump sum payment of $ million after years. The discount rate is percent. How much cash would she need to be offered today to tempt her to take a lumpsum cash offer instead, all things equal? Please show all your work.
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