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At a discount rate of 15.00%, find the present value of a perpetual payment of $7,000 per year. If the discount rate were lowered to

At a discount rate of 15.00%, find the present value of a perpetual payment of $7,000 per year. If the discount rate were lowered to 7.50%, half the initial rate, what would be the value of the perpetuity?

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Part 1

a. If the discount rate were 15.00%, the present value of the perpetuity is

$enter your response here.

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