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An investment makes annual payments. The first payment of $608.00 is due in one year at t=1. Payments grow at a rate of 14.00% annually

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An investment makes annual payments. The first payment of $608.00 is due in one year at t=1. Payments grow at a rate of 14.00% annually until t=22. Payments then are stable until t=33. Afterwards, payments grow at a rate of 4.00% annually (the payment at t=34 is 4.00% bigger than the payment at t=33) and are paid in perpetuity. What is the cash flow at t=34? (Report the t=34 value) O $11,293.89 O $9,906.92 $8,772.01 $9,828.63 O $10,859.51 0 $9,525.89 O $11,085.55 0 $10,178.94

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