Question: You have just won the lottery and will receive $ 5 2 0 , 0 0 0 in one year. You will receive payments for

You have just won the lottery and will receive $520,000 in one year. You will receive payments for 30 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 11 percent, what is the present value of your winnings?
Multiple Choice
$6,389,086
$6,376,086
$6,394,086
$6,395,586
$6,391,086

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