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Tom just won a lottery that promises to pay $1 million exactly ten years from today. Because the lottery is guaranteed by the state in

image text in transcribed Tom just won a lottery that promises to pay $1 million exactly ten years from today. Because the lottery is guaranteed by the state in which you live, he can sell the claim today for an immediate lump-sum cash payment. If he can earn 8% return on similar risk investments during the 10-year period, how much can he sell the claim for today? $558,394.78$520,112.79$463,193.49$517,863.24

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