A perpetuity will pay $900 per year, starting five years after the perpetuity is purchased. What is the present value (PV) of this perpetuity on the date that it is purchased, given that the interest rate is 11%?

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C) The first step is to calculate the PV 11ea84dc_f578_fdd8_9a63_e5fc261a10b8_TB1316_11_TB1316_11 the next step is to calculate its PV using TVM keys: input 11ea84dc_f578_fdd9_9a63_d169829a6f1e_TB1316_11_TB1316_11 number of years = 4, and interest 11ea84dc_f578_fdda_9a63_bd450342a1a4_TB1316_11_TB1316_11 11ea84dc_f578_fddb_9a63_79f7ce19de77_TB1316_11_TB1316_11

A Perpetuity Will Pay $900 Per Year, Starting Five Years