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1 . What is the present value of a perpetuity of $ 2 5 per year if the appropriate discount rate is 7 percent? (

$1 .$ What is the present value of a perpetuity of $ $25$ per year if the appropriate discount rate is $7$ percent? $($ Round your answer out to the nearest cent. $)$ What would be the present value of the perpetuity in the previous question if the discount rate decreased to $6$ percent. $($ Round your answer to the nearest cent. $)$

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