Awarded growth perpetuity

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As a result of winning the gates energy inovation award, you are awarded a growth perpetuity. First payment will occur in a year in the amount of $20,000. You will continue receiving the award annually,with each award increasing by 4.6% over the previous award, and these award will continue forever. If the discount rate is 10%, what is the present value of this award?

Reference no: EM131983222

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