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What is the present value of a perpetual stream of cash flows that pays $5,500 at the end of year one and the annual cash

What is the present value of a perpetual stream of cash flows that pays $5,500 at the end of year one and the annual cash flows grow at a rate of 4% per year indefinitely, if the appropriate discount rate is 11%?

What if the appropriate discount rate is 9%?

a.If the appropriate discount rate is 11%, the present value of the growing perpetuity is $

(Round to the nearest cent.)

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