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A perpetuity pays 1500 dollars on January 1 of 1980, 1982, 1984, ..., and pays X dollars on January 1 of 1981, 1983, 1985, ...

A perpetuity pays 1500 dollars on January 1 of 1980, 1982, 1984, ..., and pays X dollars on January 1 of 1981, 1983, 1985, ... If the present value on January 1, 1975 is 27500 dollars, and the effective rate of interest is 7.6 percent, what is X?

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