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You have just won the lottery and will receive $610,000 in one year. You will recelve payments for 25 years, which will Increase 3 percent

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You have just won the lottery and will receive $610,000 in one year. You will recelve payments for 25 years, which will Increase 3 percent per year. The appropriate discount rate is 12 percent. Required What is the present value of your winnings? O $48,253,206 O $5,943,007 O $5,705,287 O $35,882 O $48,253,206

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