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Suppose a state lottery prize of $6 million is to be paid in 25 payments of $240,000 each at the end of each of the

Suppose a state lottery prize of $6 million is to be paid in 25 payments of $240,000 each at the end of each of the next 25 years. If money is worth 10%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.)

$

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