Perpetual Cash Flows [LO1] What is the value of an investment that pays $25,000 every other year forever, if the fi rst payment occurs one year from
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Perpetual Cash Flows [LO1] What is the value of an investment that pays

$25,000 every other year forever, if

the fi rst payment occurs one year from today

and the discount rate is 9 percent compounded daily? What is the value today if the

fi rst payment occurs four years from today?

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