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You just won a lottery that promises to pay you $1 million exactly 10 years from today. Because the $1 million payment is guaranteed by

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You just won a lottery that promises to pay you $1 million exactly 10 years from today. Because the $1 million payment is guaranteed by the state in which you live, opportunities exist to sell the claim today for an immediate lump-sum cash payment. What is the least you will sell your claim for if you could earn 8.75% on similar-risk investment's during the 10 -year period

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