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A financial instrument promises to pay $1,000 per year forever. If the appropriate discount rate is 8%, what should be the price that you are

A financial instrument promises to pay $1,000 per year forever. If the appropriate discount rate is 8%, what should be the price that you are willing to pay for this instrument?

Group of answer choices

$14,500

$12,500

$10,000

not enough information

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