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An investor receives a series of payments, each amounting to $6,500, set to be received in perpetuity. Payments are to be made at the end

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An investor receives a series of payments, each amounting to $6,500, set to be received in perpetuity. Payments are to be made at the end of each year, starting at the end of year 4. If the discount rate is 9%, then what is the present value of the perpetuity at t=0

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