When calculating the value of the slot machine winnings in, Financial Accounting

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When calculating the value of the slot machine winnings in

When calculating the value of the slot machine winnings in Example 9, we assumed that the first of the 20 payments occurs at the end of 1 year. However, the payment was probably made immediately, with the remaining payments spread over the following 19 years. What is the present value of the $9.3 million prize?

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