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You have the opportunity to buy a perpetuity that pays $5,000 annually. Your required rate of return on this investment is 12 percent. What is

You have the opportunity to buy a perpetuity that pays $5,000 annually. Your required rate of return on this investment is 12 percent. What is the maximum that you would pay for this perpetuity?

$33,333

$7,777

$41,667

$52,657

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