Problem $5-10$ Calculating Perpetuity Values $[$lll $11]$

The Maybe Pay Life Insurance Company is trying to sell you an investment policy that will pay you and your heirs $$27,000$ per year forever. Assume the required return on this investment is $7\mathrm{.}7$ percent. How much will you pay for the policy?

$10$

Note: Do not round intermediate calculations and round your answer to $2$ decimal places,

e$.$gi$,32\mathrm{.}16$

points

Policy value today