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What is the present value of a perpetuity that pays $550 per year if the appropriate interest rate is 10%? $50.00 $100.00 $200.00 $500.00 None

What is the present value of a perpetuity that pays $550 per year if the appropriate interest rate is 10%?

$50.00

$100.00

$200.00

$500.00

None of the above answers are correct.

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