Business, 24.04.2020 19:55 victoriapellam04
Suppose that you win the Powerball Lottery. The stated prize is $358 million. If you agree to take the payout over 30 years in the form of an annuity due, then each payment equals the stated prize divided by 30. The first payment will be made to you immediately, and the remaining 29 future payments will be paid out annually (beginning one year from today).
Alternatively, you can take the lump sum payout. This payout is calculated as the present value of the annuity due described above. The annual rate of return used in this calculation is the estimated rate of return that the sponsor (the Multi-State Lottery Association, or MUSL) forecasts that it can earn by investing the funds necessary to support the annuity payout. For the sake of this example, suppose that the projected annual rate of return is 4.51% per year.
What is the lump sum payout (before taxes, of course)?
Express your answer in $ millions to 3 decimal places. (For example, type "10" for "$10 million" or "$10,000,000": or 11.253 for "$11, 253 million" or "$11, 253,000")
Answers: 1
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Rediger inc., a manufacturing corporation, has provided the following data for the month of june. the balance in the work in process inventory account was $28,000 at the beginning of the month and $20,000 at the end of the month. during the month, the corporation incurred direct materials cost of $56,200 and direct labor cost of $29,800. the actual manufacturing overhead cost incurred was $53,600. the manufacturing overhead cost applied to work in process was $52,200. the cost of goods manufactured for june was:
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Suppose that you win the Powerball Lottery. The stated prize is $358 million. If you agree to take t...
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