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At an annual interest rate of i, i 0, the present value of a perpetuity paying 10 at the end of each three-year period, with
At an annual interest rate of i, i 0, the present value of a perpetuity paying 10 at the end of each three-year period, with the first payment at the end of year 3, is 34.21. At the same annual effective rate of i, the present value of a perpetuity paying 1 at the end of each four-month period, with the first payment at the end of four months, is X.
Calculate X.
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