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Suppose you win the Publishers Clearinghouse $15 million sweepstakes. The money is paid in equal annual installments of $600,000 over 25 years. Assume the appropriate

Suppose you win the Publishers Clearinghouse $15 million sweepstakes. The money is paid in equal annual installments of $600,000 over 25 years. Assume the appropriate discount rate is 6%, how much is the sweepstakes actually worth today?

A.

4.67m
B.

5.67m
C.

6.67m
D.

7.67m
E.

8.67m

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