Your friend promises you a perpetuity of some payment each year. If the first payment of $$5$ occurs in year $1$ and the interest rate is $20\%,$ which of the following is right about its present value at time zero? Your friend promises you a perpetuity of some payment each year. If the first payment of $$5$ occurs in year $1$ and the interest rate is $20\%,$

which of the following is right about its present value at time zero?

$$35\mathrm{.}00$

$$25\mathrm{.}00$

$$50\mathrm{.}00$

$$24\mathrm{.}00$

None of the above