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Compute the PV of a perpetuity with monthly payments of $1,000, given an annual discount...

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Question

Accounting

Compute the PV of a perpetuity with monthly payments of $1,000, given an annual discount rate of 4% and a constant annual growth rate in the payment stream of 2%?
Select one:
a.
$610,000
b.
$650,000
c.
$640,000
d.
$620,000
e.
$600,000

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