Question: Next year you will begin receiving $260 dollars per year in perpetuity from your grandparent's family trust fund (first payment is exactly 1 year from

Next year you will begin receiving $260 dollars per year in perpetuity from your grandparent's family trust fund (first payment is exactly 1 year from today). What is the present value today of these future cash flows if you discount them at 6.5%? (Hint: draw a time line to illustrate exactly the cash flows for this problem.) Answer to 2 decimal points

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