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You just won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $530,000 per year. Thus, in

You just won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $530,000 per year. Thus, in one year you receive $1.53 million. In two years, you get $2.06 million, and so on. If the appropriate discount rate is 6.3 percent, what is the value of your winnings today? WHAT IS THE INPUT FOR THE FINANCIAL CALCULATOR?

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