Jill has just won the lottery. She will receive semi-annual payments of $50,000 commencing in 6 months time and growing at 1.4% each half-year, forever. If the interest rate is 12.9% per annum compounded semi-annually, the value of this stream of cash flows today is (to the nearest whole dollar; don’t include $ sign or commas):

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The present value of the infinite stream of semiannual paym... View the full answer