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You and 11 coworkers just won $10 million ($833,333.33 each) from the state lottery. Assuming you each receive your share over 16 years and that

You and 11 coworkers just won

$10

million

($833,333.33

each) from the state lottery. Assuming you each receive your share over

16

years and that the state lottery earns a

5

percent return on its funds, what is the present value of your prize before taxes if you request the 'up-front cash' option?

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