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You have just won the lottery and will receive $490,000 in one year. You will...

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Accounting

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You have just won the lottery and will receive $490,000 in one year. You will receive payments for 22 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 12 percent, what is the present value of your winnings? Multiple Choice $4,728,367 $25,147,970 $25,147,970 $40,495 $4,925,382

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