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Waterway Inc. has $720,310 to invest. The company is trying to decide between two alternative uses of the funds. One alternative provides $100,898 at the

Waterway Inc. has $720,310 to invest. The company is trying to decide between two alternative uses of the funds. One alternative provides $100,898 at the end of each year for 12 years, and the other is to receive a single lump-sum payment of $2,505,630 at the end of the 12 years. Which alternative should Waterway select? Assume the interest rate is constant over the entire investment.

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