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ans is b

207 223 (A) (B) (C) (D) (E) 240 245 260 99. Jack inherited a perpetuity-due, with annual payments of 15,000. He immediately exchanged the perpetuity for a 25-year annuity-due having the same present value. The annuity-due has annual payments of X. All the present values are based on an annual effective interest rate of 10% for the first 10 years and 8% thereafter. Calculate X (A) (B) (C) (D) (E) 16,942 17,384 17,434 17,520 18,989