Related to Checkpoint 6.5)(Present value of a growing perpetuity)What is the present value of a perpetual stream of cash flows that pays

$6,000

at the end of year one and the annual cash flows grow at a rate of

3%

per year indefinitely, if the appropriate discount rate is

14%?

What if the appropriate discount rate is

12%?

a.If the appropriate discount rate is

14%,

the present value of the growing perpetuity is

$nothing.

(Round to the nearest cent.)