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A perpetuity pays $80 per year and interest rates are 9.3 percent. How much would its value change if interest rates decreased to 7.8 percent?

A perpetuity pays $80 per year and interest rates are 9.3 percent. How much would its value change if interest rates decreased to 7.8 percent? Note: Round your answer to 2 decimat places. Did the value increase or decrease

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