On January 1, 2014, you win $75,000,000 in the state lottery. The $75,000,000 prize will be paid
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On January 1, 2014, you win $75,000,000 in the state lottery. The $75,000,000 prize will be paid in equal installments of $7,500,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31, 2014. If the current interest rate is 7%, determine the present value of your winnings. Use the present value tables in Appendix A.
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Related Book For 
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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