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One perpetuity pays 5 at the end of every two years, beginning four years from today. A second perpetuity pays X at the beginning of

One perpetuity pays 5 at the end of every two years, beginning four years from today. A second perpetuity pays X at the beginning of every quarter (starting today). The present value today of each of the per- petuities is equal to 60 under the assumption that equivalent (positive) interest rates are used to value the perpetuities. Find X.

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