Joe can purchase one of two annuities: Annulty 1: A 10-year decreasing annuity-immediate, with annual payments of 10,9,8,,1. Annuity 2: A perpetuity-immediate with annual payments. The perpetuity pays 1 in year 1,2 in year 2,3 in year 3, , and 11 in year 11. After year 11, the payments remain constant at 11 . At an annual effective interest rate of L the present value of Annuity 2 is twice the present value of Annuity 1 . Calculate the value of Annuity 1 . 36.4 37.4 38.4 39.4