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A perpetuity immediate pays X per year. Jackie receives the first n payments, Heather receives the next n payments, and Josh receives the remaining payments.

A perpetuity immediate pays X per year. Jackie receives the first n payments, Heather receives the next n payments, and Josh receives the remaining payments.

At time 0, the present value of Josh's share is 44% of the original perpetuity's present value.

Then, the present value of Heather's share is...................% of the original perpetuity's present value.

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