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You have just won the state lottery and have two choices for collecting your winnings. You can collect $106,000 today or receive $21,000 at the

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You have just won the state lottery and have two choices for collecting your winnings. You can collect $106,000 today or receive $21,000 at the end of each year for the next seven years. A financial analyst has told you that you can earn 9 percent on your investments. Required: 1. Calculate the present value of both the options (FV of $1,PV of $1, FVA of $1, and Note: Use appropriate factor(s) from the tables provided

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