24. Perpetuity (5 points) A wealthy individual wishes to establish a $1,000,000 trust fund to provide income for his grandchild in perpetuity. The trust agreement stipulates that the principal of $1,000,000 may never be distributed, but the grandchild will receive the interest earned each year. If the trust fund is expected to earn 5.5% APR in all future periods, how much will the grandchild be able to receive each year