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You were involved in a law suit and triumphed. The judge awarded a choice between receiving $1,020,000 today or 20 annual payments of $100,000 per

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You were involved in a law suit and triumphed. The judge awarded a choice between receiving $1,020,000 today or 20 annual payments of $100,000 per year. You would receive your first $100,000 payment one year from today. Disregard any taxes. What discount rate is built into the calculation? Round your answer to the nearest 0.1%. 8.00% 7.80% 8.10% 7.50% 7.30% 0

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