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You have just won the lottery and will receive $590,000 in one year. You will receive payments for 25 years, which will increase 4 percent

You have just won the lottery and will receive $590,000 in one year. You will receive payments for 25 years, which will increase 4 percent per year. The appropriate discount rate is 10 percent. Required: What is the present value of your winnings? Multiple Choice $30,132,089 $30,132,089 $7,117326 $54,455 $7,413,881

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