Question: What is the interest rate, r when the present value of a perpetuity is $76,700 and the payments are $3,900? The first payment occurs one

What is the interest rate, r when the present value of a perpetuity is $76,700 and the payments are $3,900? The first payment occurs one year from now. Enter your answer as a percentage. Do not include the percentage sign in your answer. Enter your response below (rounded to 2 decimal places).

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