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The Caidwell Herald newspoper reported the following story. Frank Omsby of Caldwell is the state's newest millonaire. By choosing the six winning numbers on last
The Caidwell Herald newspoper reported the following story. Frank Omsby of Caldwell is the state's newest millonaire. By choosing the six winning numbers on last week's state lottery. Mr. Ormsty won the week's grand prize totaling $12 million. The State Lottery Cominission findicated Mr. Orimshy would recelve his prize in 20 annual installiments of $60.000 each Click here to view Exhibit 1481 and Exhibit 1482, to determine the appropriate discount foctor(s) using tables. Required: 1. If Mr. Ormstry can invest maney ot a 10% rate of return, what is the present value of his winings? Note: Enter your answer in dollars and nor in millions of dollars
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