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Assuming you each receive your share over 20 years and that

1. You and 11 coworkers just won $12 million ($1 million each) from the state lottery. Assuming you each receive your share over 20 years and that the state lottery earns a 6 percent return on its funds, what is the present value of your prize before taxes if you request the "up-front cash" option?

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Accounting Basics: Assuming you each receive your share over 20 years and that

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