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The state lottery provides for $500,000 to be paid in 10 instaliments of $50,000 per payment. The first $50, 000 payment is mede immediately, and

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The state lottery provides for $500,000 to be paid in 10 instaliments of $50,000 per payment. The first $50, 000 payment is mede immediately, and the 9 remaining $50,000 payments occur at the end of each of the next 10 years. If 5 percent is the discount rate, what is the present value of this stream of cash flows? A. $405,391.08 B. $415,391.08 C. 5425,391.08 D. 5435,391.08 E. $445,391.08

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