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An investment will make annual payments. The first payment of $2.30 will be made one year from today. The amount of the annual payments will
An investment will make annual payments. The first payment of $2.30 will be made one year from today. The amount of the annual payments will grow at 4.5% per year in perpetuity. If you require an effective annual rate of return of 11% on your investments, what price would you be willing to pay for the investment?
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