Is this correct:

Given a 10 percent discount rate, what is the present value of a perpetuity of $1,000 per year if the first payment does not begin until the end of year 10?

P =Perpetuity / rate Perpetuity amount = $1,000 Discount rate = 10% (0.10) PV of perpetuity @ beginning of 10th year = 10,000 (1,000/10%) Present value of today = 10,000 10,000/(1+10%) ^10 = Number of payment = 9 (1000/.10)x(1 + .10)^10 =25,937.4246