A perpetuity with annual payment is payable beginning 10 years from now. The first payment is 10. Each annual payment thereafter is increased by 10 until a payment of 50 is reached. Subsequent payments remain level at 50. This perpetuity is purchased by means of 10 annual premiums, with the first premium of P due immediately. Each premium after the first is 105% of the preceding one. The annual effective rates are 6% during the first 9 years and 3% thereafter. Calculate P. A perpetuity with annual payment is payable beginning 10 years from now. The first payment is 10. Each annual payment thereafter is increased by 10 until a payment of 50 is reached. Subsequent payments remain level at 50. This perpetuity is purchased by means of 10 annual premiums, with the first premium of P due immediately. Each premium after the first is 105% of the preceding one. The annual effective rates are 6% during the first 9 years and 3% thereafter. Calculate P