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Lana's lucky day has come. She has won the lottery which offers semi-annual payments of $478,580 for the next 15 years. Assuming a 5% compounded

Lana's lucky day has come. She has won the lottery which offers semi-annual payments of $478,580 for the next 15 years. Assuming a 5% compounded semi-annual rate, what is the lump sum (present value) equivalent of the payments?

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