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Steve Coleman has just won the state lottery and has the following three payout options for after - tax prize money: $ 1 6 6

Steve Coleman has just won the state lottery and has the following three payout options for after-tax prize money:
$166,000 per year at the end of each of the next six years
$306,000(lump sum) now
$518,000(lump sum) six years from now
The annual discount rate is 9%. Compute the present value of the second option. (Round to nearest whole dollar.)
Present value of $1 :
\table[[,8%,9%,10%
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