A perpetuity has payments of $$1,$$$2,$$$1,$$$3,$$$1,$$$4,$$$1,$$$5,$dots Payments are made at the end of

each year. You may assume an annual effective interest rate of $4\%.$ Determine the present value

of this perpetuity.

A$.$ Less than $$150$

B$.$ At least $$150,$ but less than $$250$

C$.$ At least $$250,$ but less than $$350$

D$.$ At least $$350,$ but less than $$450$

E$.$ At least $$450$