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You have decided to buy a perpetuity. The bond makes one payment at the end of every year forever and has an interest rate of

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You have decided to buy a perpetuity. The bond makes one payment at the end of every year forever and has an interest rate of 8%. If you initially put $5,000 into the bond, what is the coupon payment every year? The end of year payment is $. (Round to the nearest dollar.)

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