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One of your friends recently received a settlement from a lawsuit. The judge awarded them annual payments. They receive their first payment $10,000 one year

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One of your friends recently received a settlement from a lawsuit. The judge awarded them annual payments. They receive their first payment $10,000 one year from today. After receiving that payment, the amount they received will increase each year by 5% forever (ie, two years from today they get $10,500, three years from today they get $11,025, etc.). They offer to sell you all the cash flows from this settlement for a lump sum today. If you believe the appropriate rate of return on this investment is 15%, how much should you pay them for it today? $1,000,000.00 $105,000.00 $9.523.81 O $66,666,67 $100,000.00

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