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What is the present value of a perpetuity of $400 per year if the appropriate discount rate is 9.39%? Round your answer to the nearest

What is the present value of a perpetuity of $400 per year if the appropriate discount rate is 9.39%? Round your answer to the nearest cent. $ ________

If interest rates in general were to double and the appropriate discount rate rose to 18.78%, what would its present value be? Round your answer to the nearest cent. $ ________

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