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  3. 2. a lottery claims its grand prize is $25 million

2. A lottery claims its grand prize is $25 million, payable over 25 years at...

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Accounting

2. A lottery claims its grand prize is $25 million, payable over 25 years at $1,000,000 per year. If the first payment is made immediately, what is this grand prize really worth? Use a discount rate of 7%.

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