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You have just won the lottery and will receive $530,000 in one year. You will receive payments for 15 years, and the payments will increase

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You have just won the lottery and will receive $530,000 in one year. You will receive payments for 15 years, and the payments will increase 3 percent per year. If the appropriate discount rate is 12 percent, what is the present value of your winnings? Multiple Choice $96.829 $14,800,389 0 $4,044,198 0 $14,800.389 $4,212,706

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