Julie wins a 15 million lottery payable over 30 years in


Julie wins a $15 million lottery payable over 30 years. In years 1 through 4, she receives annual installments of $500,000. At the beginning of year 5, Julie sells her right to receive the remaining 26 payments to a third-party for a lump-sum payment of $8,900,000. How much does Julie include in income each year?

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Macroeconomics: Julie wins a 15 million lottery payable over 30 years in
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