Which of the following statements is true of a perpetuity

A) A perpetuity has a fixed maturity

B)The present value of each payment made by a perpetuity is less than the previous payment

C)The present value of a perpetuity that pays $100 every year when the annual rate of discount is 5% is $1,000

D)The present value of a perpetuity that pays $200 every year when the annual rate of discount is 7% is $1,750