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John won a $75 million lottery today. The payout is the following: John gets $2.5 million todayand $2.5 million each year for the next 29
John won a $75 million lottery today. The payout is the following: John gets $2.5 million todayand $2.5 million each year for the next 29 years. How much money worth today for the lotteryassuming federal tax rate is 39.6%, state tax is 8% and Johns discount rate is 10%?
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Financial Management Theory And Practice
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
3rd Canadian Edition
