PLEASE EXPLAIN THE PROCESS AND ANSWER, THERE ARE SO MANY DIFFERENT ANSWER IN CHEGG

Question 19 Answer saved Your friend promises you a perpetuity of $1 every year, which starts in year 1. However, your friend is an absent-minded guy, paying you $3 at year 8 but no payment at years 7 and 9. Except for these three years, in other years, the payment is always $1. Which of the following is right about the present value at year zero of your friend's all payments if r = 5%? Points out of 1.00 Select one: P Flag question O a. $21.09 O b. $20.00 O c. $19.91 O d. $19.97 O e. None of the above Clear my choice