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A perpetuity-due with annual payments consists of five level payments of followed by a series of increasing payments. Beginning with the sixth payment, each payment

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A perpetuity-due with annual payments consists of five level payments of followed by a series of increasing payments. Beginning with the sixth payment, each payment is 2.3% larger than the preceding payment. Using an annual effective interest rate of 4.2%, the present value of the perpetuity is 77,000, Calculate X 1.531 1,562 1.583 1.618 1654

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