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You have just won the lottery and will receive $470,000 in one year. You will receive payments for 23 years, and the payments will increase

You have just won the lottery and will receive $470,000 in one year. You will receive payments for 23 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 10 percent, what is the present value of your winnings? Multiple Choice $5,677,170 O $5,450,083 $52,489 O $20,625,138 $20,625,138

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