Consider a perpetuity-due with annual payments as follows: 200, 200(1.09), 200(1.09)2,..., 200(1.09)12 at times 0, ..., 12 and level payments of 200(1.09)12 afterwards at times 13, 14, ... Find the PV of this perpetuity at time 0 given an annual effective rate of interest i=2%