A perpetuity-immediate pays $200 per year. Immediately after the fifth payment, the perpetuity is exchanged for a 25-year annuity-immediate that will pay X at the end of the first year. Calculate X and the future value of that 25-year annuity immediate.

X= 103 and FV=17,521

X= 108 and FV=18,521

X= 103 and FV=18,121

X= 105 and FV=19,121

108 and 17,121

NOTE: I did this problem myself and got X=108 and the Future Value is 18,521, which is wrong. Therefore, is not the answer.