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You just purchased a growing perpetuity. You paid $54,400 for the growing perpetuity. The perpetuity will make annual payments. The first payment will be received
You just purchased a growing perpetuity. You paid $54,400 for the growing perpetuity. The perpetuity will make annual payments. The first payment will be received 1 year from today. The payment will growth by 2.7% per year. The required rate of return is 7.6% compounded annually. What is the amount of the payment that you will receive one year from today? Your answer should be accurate to two decimal places.
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