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Bill purchased a perpetuity-due with annual payments of 15,000. He immediately exchanged the perpetuity for a 25-year annuity-due with the same present value. The annuity-due

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Bill purchased a perpetuity-due with annual payments of 15,000. He immediately exchanged the perpetuity for a 25-year annuity-due with the same present value. The annuity-due has annual payments of X. All the present values are based on an annual effective interest rate of 10 for the first 10 years and 8% thereafter. Calculate X. A. 17384 B. 17857 C. 18023 OD. 18242 E. 18563

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