Question: A perpetuity will pay $700 per year, starting five years after the perpetuity is purchased. What is the present value (PV) of this perpetuity on

A perpetuity will pay $700 per year, starting five years after

A perpetuity will pay $700 per year, starting five years after the perpetuity is purchased. What is the present value (PV) of this perpetuity on the date that it is purchased, given that the interest rate is 4%? A. $14,959 B. $11,967 OC. $8,975 OD. $7,480

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