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The North Carolina Lottery Commission has just informed you that you have won a valuable prize! The amount is to be paid out at the

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The North Carolina Lottery Commission has just informed you that you have won a valuable prize! The amount is to be paid out at the rate of $54,000 a year for the next 18 years. With a discount rate of 11 percent, what is the present value of your winnings? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value

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