The answers are NOT a=20.00000, a=18.92857, or a=265 and b=21.05128, b=19.98857, or b=280.9. Both answers MUST be positive.

(1 point) Given i=5.6%, find the present value of a perpetuity with annual payments of 1.06,(1.06)2,(1.063),,(1.06)n, (a) if it is a perpetuity-immediate. Give your answer to five digits after the decimal point. Answer = (b) if it is a perpetuity-due. Give your answer to five digits after the decimal point. Answer =