Question: 4208 is incorrect. this is a question about perpertuities. please answer and explain. thank you. David will receive $200 on every January 1st perpetually, starting

4208 is incorrect. this is a question about perpertuities. please answer and explain. thank you.

David will receive $200 on every January 1st perpetually, starting in 2025. Calculate the present value on January 1st, 2021. Assume that the annual effective interest rate is 6%. Round the answer to the nearest dollar

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