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(Present value of a perpetuity)At a discount rate of 6%, find the present value of a perpetual payment of $7000 per year. If the discount

(Present value of a perpetuity)At a discount rate of 6%, find the present value of a perpetual payment of $7000 per year. If the discount rate were lowered to3 %, half the initial rate, what would be the value of the perpetuity?

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