Fall07:What is the present value of a perpetuity with an annual year-end payment of $1,500 and

Fall07:What is
the present value of a perpetuity with an annual year-end payment of $1,500 and
expected annual rate of return equal to 12 percent?
A. $14,000
B. $13,500
C. $11,400
D. $12,500
Level of difficulty: Easy