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Suppose Samsung has to pay Apple $28 million per year for the next 27 years...

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Finance

Suppose Samsung has to pay Apple $28 million per year for the next 27 years in damages because of a mobile phone design lawsuit. The first payment is in one year. If r = 9%, whats the value in todays dollars of this stream of cash flows? Enter your answer in millions of dollars rounded to 1 decimal place (ex. $300,120,000.43 = 300.1)

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