Homework: HW 6 Annuity and Perpetuity < Question 7, P6-45 (simila... > HW Score: 25%, 3 of 12 points O Points: 0 of 1 Save (Present value of a growing perpetuity) What is the present value of a perpetual stream of cash flows that pays $80,000 at the end of year one and then grows at a rate of 3% per year indefinitely? The rate of interest used to discount the cash flows is 12%. The present value of the growing perpetuity is $(Round to the nearest cent.) *****