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33. A perpetuity-immediate makes a payment of 3 at the end of the first year, 2 at the end of the second year, and 1
33. A perpetuity-immediate makes a payment of 3 at the end of the first year, 2 at the end of the second year, and 1 at the end of the third year. This pattern of payments of 3, 2, 1 repeats indefinitely. Calculate the present value of the perpetuity at a 3.4% annual effective interest rate. A) 176.5 B) 172.6 C) 59.5 D) 56.9 E) 55.6
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