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A trust has been established such that RJ will receive a perpetuity of 1000 a year with the first payment at the end of 5

A trust has been established such that RJ will receive a perpetuity of 1000 a year with the first payment at the end of 5 years.

Calculate the present value of the perpetuity at a discount rate of d = 8%.

answer: 8238.52

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