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you have just won the lottery and will receive $1,000,000 in one year. you will receive payments for 25 years and the paymens will increase

you have just won the lottery and will receive $1,000,000 in one year. you will receive payments for 25 years and the paymens will increase 2.3 percent per year. if the appropriate discount rate is 6.3 percent, what is the present value of your winnings?

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