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Your financial planner offers you two different investment plans. Plan X is a $25,000 annual perpetuity. Plan Y is a 15-year, $35,000 annual annuity. Both

Your financial planner offers you two different investment plans. Plan X is a $25,000 annual perpetuity. Plan Y is a 15-year, $35,000 annual annuity. Both plans will make their first payment one year from today. At what discount rate would you be indifferent between these two plans?

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