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The answer is C but how can I get that? Thanks pls show all the work. A perpetuity will pay you an initial cash flow

The answer is C but how can I get that? Thanks pls show all the work.

A perpetuity will pay you an initial cash flow of $8.58 today. You will then receive semi-annual payments that grow at 2.5% APR. What is the value of the perpetuity if the discount rate is 6.1% APR?

(a) $252.87 (b) $298.47 (c) $491.20 (d) $238.33 (e) $703.56

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