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Your lucky cousin just won a $45 million lottery and will receive $1.6 million a year for the next 20 years plus an additional lump
Your lucky cousin just won a $45 million lottery and will receive $1.6 million a year for the next 20 years plus an additional lump sum payment of $13 million at the end in addition to the 20th $1.6 million payment. Assume a discount rate of 15 percent. What is the present value of this prize?
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