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Your Aunt Brooke has promised to leave you an annuity that will make its first payment of $55 in exactly one year. Thereafter, the payments

Your Aunt Brooke has promised to leave you an annuity that will make its first payment of $55 in exactly one year. Thereafter, the payments will grow at an annual rate of 0%. The payments are expected to go on indefinitely. Your relevant interest rate is 9%. What is the value of the growing perpetuity?

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