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A perpetuity pays $85 per year and costs $3,480. What is the rate of return? Select the correct answer. a. 3.04%b. 2.14%c. 1.84%d. 2.44%e. 2.74%

A perpetuity pays $85 per year and costs $3,480. What is the rate of return?

Select the correct answer.

a. 3.04%b. 2.14%c. 1.84%d. 2.44%e. 2.74%

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