1. Sammy buys a perpetuity immediate with varying annual payments. During the first 5 years, the payment is constant and equal to 10. Beginning in year 6, the payments start to increase. For year 6 and all future years, the current year's payment is K% larger than the previous year's payment. At an effective annual rate of 9.2%, the perpetuity has a present value of 167.50. Calculate K, assuming it is less than 9.2%