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Present Value of a Perpetuity A perpetuity pays $280 per year and interest rates are 6.8 percent. How much would its value change if interest

Present Value of a Perpetuity A perpetuity pays $280 per year and interest rates are 6.8 percent. How much would its value change if interest rates increased to 9.3 percent?

A. $1,106.90 increase

B. $700.00 decrease

C. $700.00 increase

D. $1,106.90 decrease

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