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You just won a lottery! For your prize, you opted to receive never - ending payments. The first payment will be $ 1 2 ,

You just won a lottery! For your prize, you opted to receive never-ending payments. The first payment will be $12,000, which will be
paid one year from today. The payments will grow by 3.5 percent every year. What is the present value of your prize at an interest
rate of 8 percent?
A. $150,000.00
B. $266,666.67
C. $300,000.00
D. $342,857.14
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