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Lisa has won the lottery! She has the following two options to receive her winnings: a. An annuity due with quarterly payments of 125,000 for

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Lisa has won the lottery! She has the following two options to receive her winnings: a. An annuity due with quarterly payments of 125,000 for 20 years; or b. A perpetuity immediate with annual payments of P. Using a nominal annual interest rate of 10% compounded quarterly, these two options have the same present value. Calculate P. (Round your answer to the nearest 2 decimal places.)

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