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+ Consider an increasing perpetuity with the first payment equaling $10 and each successive payment increased by $10. The present value (price function) of this

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+ Consider an increasing perpetuity with the first payment equaling $10 and each successive payment increased by $10. The present value (price function) of this annuity at interest rate i is P(1) 10 10 10-+ 101-2 . Determine the value of the modified duration at a yield (interest) rate of i = 10.0% 32.89 27.64 24.07 21.30 19.09

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