Compute the PV of a perpetuity with monthly payments of $$1,000,$ given an annual discount rate of $4\%$ and a constant annual growth rate in the payment stream of $2\%?$

Select one:

a$.$

$$610,000$

b$.$

$$650,000$

c$.$

$$640,000$

d$.$

$$620,000$

e$.$

$$600,000$