At a discount rate of

17.00%,

find the present value of a perpetual payment of

$4,500

per year. If the discount rate were lowered to

8.50%,

half the initial rate, what would be the value of the perpetuity?

a. If the discount rate were

17.00%,

the present value of the perpetuity is

$nothing.

(Round to the nearest cent.)

b.If the discount rate were lowered to

8.50%,

half the initial rate, the present value of the perpetuity is

$nothing.

(Round to the nearest cent.)