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You receive an inheritance from your grandmother in the amount of $9 million. The inheritance will be paid in 3 equal installments and the first

You receive an inheritance from your grandmother in the amount of $9 million. The inheritance will be paid in 3 equal installments and the first payment will arrive only in three years.

How much is the inheritance really worth to you today if the discount rate is 10%? How would your answer change if the inheritance would be paid in 9 equal installments? (Note: to receive a credit for this question you need to use shortcut formulas)

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