(Present value of a perpetuity) At a discount rate of 12.00%, find the present value of a perpetual payment of $1,500 per year. If the discount rate were lowered to 6.00%, half the initial rate, what would be the value of the perpetuity? a. If the discount rate were 12.00%, the present value of the perpetuity is $(. (Round to the nearest cent.) b. If the discount rate were lowered to 6.00%, half the initial rate, the present value of the perpetuity is $ (Round to the nearest cent.)