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The $ 5 . 5 M lottery that you just won actually pays ( $ 5 . 5 M divided by 2 3 ) per

The $5.5M lottery that you just won actually pays ( $5.5M divided by 23) per year for 23 years. If the discount rate is 8 percent, and the first payment comes in 1 year, what is the present value of the winnings?
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