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Live Forever Life Insurance Company is selling a perpetuity contract that pays $ 1 , 3 0 0 monthly. The contract currently sells for $

Live Forever Life Insurance Company is selling a perpetuity contract that pays $1,300 monthly. The contract currently sells for $61,000.
a. What is the monthly return on this investment vehicle?
b. What is the APR?
c. What is the effective annual rate?

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