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Logan won 9,000,000 in a lottery. He will receive payments in 9 equal ones of 1,000,000. If he receives a payment today and another one

Logan won 9,000,000 in a lottery. He will receive payments in 9 equal ones of 1,000,000. If he receives a payment today and another one annually for 8 years what is the present value of the amount? A 7% discount rate should be used.

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