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Consider a perpetuity that will pay $500 at the end of every year. However, this perpetuity begins only 7 years from now. If the appropriate

Consider a perpetuity that will pay $500 at the end of every year. However, this perpetuity begins only 7 years from now. If the appropriate discount rate is 9% compounded annually, what is the present value of this perpetuity (i.e., the value at t=0)?

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