$(2$ points$)$ You have been offered a security that will give you payments forever. The payments are

as follows $($all amounts are received at the end of the year$)$:

Years $1-3$: $$150$ per year

Years $4-8$: $$200$ per year

Year $9$ onwards: $$250$ per year

What is the most you can pay for this security and still make your $10\%$ required rate of return?

$[$Hint: First find the PV of the perpetuity and then draw the timeline before using the financial

calculator to solve the problem.$]$