If the interest rate is 6.0%, what is the present value of a perpetuity paying $265 per year? (A perpetuity is a bond that makes payments forever.) Round to the nearest cent. Do not use dollar signs...

Extracted text: If the interest rate is 6.0%, what is the present value of a perpetuity paying $265 per year? (A perpetuity is a bond that makes payments forever.) Round to the nearest cent. Do not use dollar signs or commas in your answer. Example: if the answer is $1,234.563, then write "1234.56" .