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The present value of 20 annual payments of $1 million dollars from the lottery, with the first payment received today and an assumed interest rate

The present value of 20 annual payments of $1 million dollars from the lottery, with the first payment received today and an assumed interest rate of 6% would be a) $11,470,000 b) $11,158,000 c) $12,158,000. d) $12,470,000

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