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(Present value of a perpetuity) At a discount rate of 7.00%, find the present value of a perpetual payment of $4,000 per year. If the discount rate were lowered to 350%, half the inital rate, what would be the value of the perpetuify? a. If the discount rate were 7.00%, the present value of the porpetuity is 5 (Round to the nearest cent) b. If the discount rate were lowered to 350%, half the intial rate, the present value of the perpetuity is $ (Round to the nearest cent)