Problem $4-73$ Break$-$Even Investment Returns

Your financial planner offers you two different investment plans. Plan $x$ is a

perpetuity with $$14,000$ annual payments. Plan $Y$ is an annuity with $15$

annual payments of $$25,000.$ Both plans will make their first payment one

year from today. At what discount rate would you be indifferent between

these two plans?

Note: Do not round intermediate calculations and enter your answer as a

percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Discount rate