Question: You are evaluating a growing perpetuity product from a large financial services firm. The product promises a payment beginning at $28,628 at the end of

You are evaluating a growing perpetuity product from a large financial services firm.

The product promises a payment beginning at $28,628 at the end of this year and which will thereafter grow at a rate of 1.1 percent annually. If you use a 9 percent discount rate for investment products, the present value of this growth perpetuity is $.

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