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You have just won the lottery and will receive $1,000,000 every year. You will receive payments for 30 years, which will increase 3% per

You have just won the lottery and will receive $1,000,000 every year. You will receive payments for 30 years, which will increase 3% per year. If the appropriate discount rate is 7%, what is the present value of your winnings? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Present value

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