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Suppose you purchase a perpetuity-due that pays you 5500 per year. However, immediately after receiving the fifth payment, you exchange the perpetuity for a 25-year

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Suppose you purchase a perpetuity-due that pays you 5500 per year. However, immediately after receiving the fifth payment, you exchange the perpetuity for a 25-year annuity that pays you X at the end of the first year and then subsequently increases payments by 3% each year over the previous year's payment. If both the perpetuity and annuity are valued at 8% annual effective interest, determine the value of x

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