The present value of a perpetuity formula $($PV $=$ C$/$k$)$ calculates the:

Group of answer choices

value of the series in the period prior to the last cash flow of the series.

none of the choices are correct.

value of the series in the period prior to the first cash flow of the series.

value of the series in the same period as the first cash flow of the series.

value of the series in the same period as the last cash flow of the series.