Live Forever Life Insurance Company is selling a perpetuity contract that pays $$1,550$

monthly. The contract currently sells for $$116,000.$

a$.$ What is the monthly return on this investment vehicle? $($Do not round intermediate

calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,$

$32\mathrm{.}16.)$

b$.$ What is the APR? $($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? $($Do not round intermediate calculations and

enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$