Big Sky Cancer Research Institute just received a $4 million gift to cover the salary for a permanent research scientist to study Hodgkin’s disease, in perpetuity. What would be the required rate of...

Big Sky Cancer Research Institute just received a $4 million gift to cover the salary for a permanent research scientist to study Hodgkin’s disease, in perpetuity. What would be the required rate of return on the investment if the position paid an annual salary of

a. $175,000 per year?

b. $200,000 per year?

c. $225,000 per year?