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You have just won the lottery and will receive $640,000 In one year. You will receive payments for 18 years, which will increase 4 percent

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You have just won the lottery and will receive $640,000 In one year. You will receive payments for 18 years, which will increase 4 percent per year. The appropriate discount rate is 11 percent. Required: What is the present value of your winnings? $6, 059, 830 $20, 389, 319 $6, 312, 323 $97.806 $20, 389, 319

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