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Suppose that a perpetuity makes annual payments, the first coming one year from now. The first payment is 1830 dollars, and each payment thereafter is

Suppose that a perpetuity makes annual payments, the first coming one year from now. The first payment is 1830 dollars, and each payment thereafter is 4.4 percent larger than the one before it. If the effective rate of interest is 6.6 percent, what is the present value of the perpetuity?

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