Question: Show all work, will thumbs up Pfizer is going to receive a 30-year annuity of $12,000 per year, with the first payment beginning a year

Show all work, will thumbs up

Pfizer is going to receive a 30-year annuity of $12,000 per year, with the first payment beginning a year from now (ex: at t=1). Moderna is going to receive a perpetuity of $10,000 per year which is also beginning at t =1. If the appropriate interest rate is 8 % per year and is compounded annually, Which income stream is worth more today, and by how much?

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