Like-kind property is real property held for investment or use in a trade or business exchanged for real property held for inves
1 answer:
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Answer:
$1,818,181.81
Explanation:
Data provided:
Amount that will be provided a year = $50,000
Expected rate of return = 2.75%
Now,
The Present value of perpetuity is given as:
Present value of perpetuity =
on substituting the respective values, we get
Present value of perpetuity =
or
Present value of perpetuity = $1,818,181.81
Hence,
The amount that must be deposited today to fund this gift is $1,818,181.81