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An insurance company is offering a perpetual annuity of $1,917 per year at the end of each year, in exchange for an $22,939 up front

An insurance company is offering a perpetual annuity of $1,917 per year at the end of each year, in exchange for an $22,939 up front payment today. What is the implied rate of return on this investment?

Enter answer in percents, to two decimal places.

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