Question $49$: What is the present value of a growing perpetuity that makes annual payments with the first payment of $$12,500$ starting $2$ years from today. The required return is $9\mathrm{.}2\%$ and the annual growth rate is $4\mathrm{.}7\%?$

a$)$ $$245,567\mathrm{.}43$

b$)$ $$277,777\mathrm{.}78$

c$)$ $$245,677\mathrm{.}12$

d$)$ $$267,783\mathrm{.}34$