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Justin Banks just won the lottery and is trying to decide between the annual cash flow payment option or the lump sum option. He can earn 8% at the bank and the annual cash flow option is $100,000/year, beginning today for 15 years. What is the annual cash flow option worth to Banks today? A. $924,423.70. B. $855,947.87. C. $1,080,000.00. |