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You just inherited a trust that will pay you $60,000 per year in perpetuity. However, the first payment will not occur for exactly nine more

You just inherited a trust that will pay you $60,000 per year in perpetuity. However, the first payment will not occur for exactly nine more years. Assuming a 10.50 percent annual interest rate, what is the present value of this trust?

a.
$500,000.45

b.
$257,077.30

c.
$192,290.84

d.
$225,000.45

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