Live Forever Insurance Company is selling a perpetual annuity contract that pays $$3,500$ monthly. The contract currently sells for $$338,000.$

$10$

points

a$.$ What is the monthly return on this investment vehicle?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Skipped

b$.$ What is the APR?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

c$.$ What is the effective annual return?