Bobs Lottery Inc. has decided to offer winners a choice of $100,000 in 10 years or some
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Bob’s Lottery Inc. has decided to offer winners a choice of $100,000 in 10 years or some amount currently. Assume that Bob’s Lottery Inc. earns a 10 percent after-tax rate of return. What amount should Bob’s offer lottery winners currently in order to be indifferent between the two choices?
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