10.You are the beneficiary of a trust set up by your grandparents. You will receive your first $2,000 cash ten years from now (T=10) when you turn age 30. To cover the cost of inflation, these cash flows will grow at 3.0% per year in perpetuity. Assume the appropriate discount rate is 5.0% per annum. What is the present value of this perpetuitytoday (T=0)?

a.$48,321b.$53,153c.$58,468d.$61,391e.$64,461