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(Present value of a perpetuity) At a discount rate of 6.50%, find the present value of a perpetual payment of $5,500 per year. If the

(Present value of a perpetuity) At a discount rate of 6.50%, find the present value of a perpetual payment of $5,500 per year. If the discount rate were lowered to 3.25%, half the initial rate, what would be the value of the perpetuity? a. If the discount rate were 6.50%, the present value of the perpetuity is $ (Round to the nearest cent.)

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