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You have just won the lottery and will receive $490,000 in one year. You will receive payments for 19 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 19 years, and the payments will increase 5 percent per year. If the appropriate discount rate is 10 percent, what is the present value of your winnings? Multiple Choice $13,918,674 $5,750,870 $13,918,674 $5,520,835 $80,119

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