A perpetuity will pay $ $400$ per year, starting five years after the perpetuity is purehased. What

is the present value $($PV$)$ of this perpetuity on the date that it is purchased, given that the

i n t e r e s t

rate is $5\%?$

A$.$ $$3291$

B$.$$$5266$

C$.$ $$6582$

D$.$ $$3949$