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You are the lucky winner of a $60 million state lottery. You decide to take your prize money as 12 payments of $5 million per

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You are the lucky winner of a $60 million state lottery. You decide to take your prize money as 12 payments of $5 million per year (starting today). If the interest rate is 4%, what is the present value of your prize money? A. $44.23 million B. $46.93 million C. $48.81 million D. $50.57 million

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