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You have just won the lottery and will receive $510,000 in one year. You will receive payments for 26 years, which will increase 4 percent

You have just won the lottery and will receive $510,000 in one year. You will receive payments for 26 years, which will increase 4 percent per year. The appropriate discount rate is 10 percent. Required: What is the present value of your winnings?

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