Question
You have just won the lottery and will receive $490,000 in one year. You will receive payments for 18 years, which will increase 5 percent
| You have just won the lottery and will receive $490,000 in one year. You will receive payments for 18 years, which will increase 5 percent per year. The appropriate discount rate is 11 percent. |
Required:
| What is the present value of your winnings? |
Multiple Choice
-
$74,883
-
$14,038,348
-
$4,956,567
-
$5,163,091
-
$14,038,348
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
