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You have just won the lottery and will receive $490,000 in one year. You will receive payments for 20 years, and the payments will increase

You have just won the lottery and will receive $490,000 in one year. You will receive payments for 20 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 11 percent, what is the present value of your winnings? Multiple Choice $39,291,109 0 $5,941,481 $5,703,822 0 $23,759 0 $39,291,109

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