Quokka recently won the lottery and has the opportunity to receive $200,000 per year at...
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Quokka recently won the lottery and has the opportunity to receive $ per year at the end of the year for the next years. Assuming an annual interest rate of is appropriate, the future value is times $ $ the present value of an ordinary annuity is times $ $ and the present value of an annuity due is times $ $ What is the fair value of the lottery payments according to GAAP? a $ b $ I know this is the correct answer, but where is the coming from? c $ d $
Quokka recently won the lottery and has the opportunity to receive $ per year at the end of the year for the next years. Assuming an annual interest rate of is appropriate, the future value is times $ $ the present value of an ordinary annuity is times $ $ and the present value of an annuity due is times $ $ What is the fair value of the lottery payments according to GAAP?
a $
b $ I know this is the correct answer, but where is the coming from?
c $
d $
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