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What is the present value of a perpetuity of $50,000 received at the end of each year when the interest rate is 3% per annum?

What is the present value of a perpetuity of $50,000 received at the end of each year when the interest rate is 3% per annum? Select one: $1,666,667 $426,510 O $743,874 O $1,286,488

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