(Present value of a growing​ perpetuity) What is the present value of a perpetual stream of cash flows that pays ​$4500 at the end of year one and the annual cash flows grow at a rate of ​3% per year​ indefinitely, if the appropriate discount rate is 15​%? What if the appropriate discount rate is ​13%?
Part 1
a. If the appropriate discount rate is ​%, the present value of the growing perpetuity is​ $ ____ enter your response here.