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You have just received notification that you have won the $3 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you’re around to collect), 66 years from now.

Question: What is the present value of your windfall if the appropriate discount rate is 10 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

Present value $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92811249

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