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A perpetuity pays $680 annually. At the time of the second payment, the value of the entire perpetuity (including the first payment) is $6700. What

A perpetuity pays $680 annually. At the time of the second payment, the value of the entire perpetuity (including the first payment) is $6700. What is the smallest possible effective rate of interest? (Round your answer to four places after the decimal.)

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