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You have just won the lottery and will receive $530,000 in one year. You will receive payments for 21 years, and the payments will increase

You have just won the lottery and will receive $530,000 in one year. You will receive payments for 21 years, and the payments will increase 5 percent per year. If the appropriate discount rate is 11 percent, what is the present value of your winnings? Multiple Choice $19,541,407 $5,840,094 $19,541,407 $6,083,431 $59,223

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