Jill has just won the lottery. She will receive semi-annual payments of $41,000 commencing in 6 months time and growing at 1.4% each half-year, forever. If the interest rate is 11.0% per annum compounded semi-annually, the value of this stream of cash flows today is (to the nearest whole dollar; don’t include $ sign or commas):
18.A preference share pays $212 each year-end in perpetuity. If the relevant discount rate is 9.7% p.a. (effective) the value of the preference share today is (including cents; don’t use the $ sign or comma separators):
