Question: please work out the problem and show work so I can understand the steps A perpetuity will make its first payment in 20 years. The

please work out the problem and show work so I can

please work out the problem and show work so I can understand the steps

A perpetuity will make its first payment in 20 years. The first payment will be $5,000, and future payments will increase at a 10 percent annual rate. What is the present value of this investment, assuming an 10% discount rate? Place Answer in Blank Above

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