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Your father would like to share some of his fortune with you. He offers to give you money under one of the following scenarios (you get to choose):

Scenario #1: $15,000,000 after five years

Scenario #2: $2,150,000 per year for five years

Scenario #3: $13,000,000 after three years

Requirement

a. Calculate the present value of each scenario using an 8% discount rate. Which scenario yields the highest present value? Round to nearest whole dollar.

CategoryPsychology

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