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P6-37 Growing Annuity (LO1) You have just won the lottery and will receive $550,000 in one year. You will receive payments for 27 years, which

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P6-37 Growing Annuity (LO1) You have just won the lottery and will receive $550,000 in one year. You will receive payments for 27 years, which will increase 4 percent per year. The appropriate discount rate is 11 percent Required: What is the present value of your winnings? Multiple Choice O $6,503,686 $32,858 O $37,755,466 $6,243,539 O $37,755,466

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