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The FIRE311 financial security offers an investor with the payment of $50 at the end of year 1(t=1), the payment of $100 at the end
The FIRE311 financial security offers an investor with the payment of $50 at the end of year 1(t=1), the payment of $100 at the end of year 2(t=2), and the payment of $150 at the end of year 3(t=3). After that, the payments will grow at a constant rate of 3% per year, forever. If the investor's cost of capital (required rate of return) is 10\% per annum, then what is the maximum price they are willing to pay for the FIRE311 financial security now (at time t=0 )
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