Question 2 1p You wish to create a scholarship foundation that will start issuing awards 16 years from now and will last forever. You want the yearly total award to be $7.525. The interest rate is always 6.1%. Find the present value of the scholarship. Hint: First find the PV of the perpetuity at the time point a year before the first award comes. * Hints/Example) Example: You wish to create a scholarship foundation that will start issuing awards 13 years from now and will last forever. You want the yearly total award to be $7642. The interest rate is always 7.7%. Find the present value of the scholarship. Solution: First, find the value of the perpetuity 12 years from now, which is a period before the first cash flow of the perpetuity. V22-$764277.7%-$99243.7532. Therifind the PV of perpetuity PV-V-V12/(1+7.7%)*2-$99243.7532/(1+7.794)12-540750.02.