3. (2 points.) Suppose you get for free one of following two securities: (a) an annuity that pays $10,000 at the end of each of the next 10 years. 1 (b) a perpetuity that pays $10,000 forever, but skips the first 10 payments, meaning the first cash payment from this security is 11 years from today. Which security would you choose if the annual interest rate at all maturities is 4% ? Does your answer change if the interest rate at all maturities is 7.5% ? Why or why not