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16. A perpetuity will pay $800 per year, starting 2 years after the perpetuity is purchased. What is the present value (PV) of this perpetuity

16. A perpetuity will pay $800 per year, starting 2 years after the perpetuity is purchased. What is the present value (PV) of this perpetuity on the day that it is purchased (consider this time 0), given that the interest rate is 6%?

(a) $11,866.62 (b) $11,194.92 (c) $13,333.33 (d) $12,578.62

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