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You have just won $10,000,000 in a lottery. However, when you go to collect your check you find that the $10,000,000 is actually payments of
You have just won $10,000,000 in a lottery. However, when you go to collect your check you find that the $10,000,000 is actually payments of $1,000,000 per year for the next 10 years. How much should you be willing to accept now, in a lump sum, if your opportunity cost discount rate is 10%? Round your answer to the nearest dollar.
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