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What is the present value of your prize before taxes

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Problem

You and 11 coworkers just won $5 million ($416 comma 666.67 each) from the state lottery. Get the instant assignment help. Assuming you each receive your share over 17 years and that the state lottery earns a 4 percent return on its funds, what is the present value of your prize before taxes if you request the 'up-front cash' option?

Reference no: EM133910262

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