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As part of a lawsuit settlement, a company is ordered to make constant annual payments to a familys estate in perpetuity. The first payment will

As part of a lawsuit settlement, a company is ordered to make constant annual payments to a family’s estate in perpetuity. The first payment will be made in four years. Applying an interest rate of 5%, this settlement is valued at $1 million today. Calculate the amount of the perpetual payment.

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