Cheryl receives the sixty-year annuity-due. The annual payments are $3,000 throughout the first twenty years and $6,000 throughout the next forty years. David receives a perpetuity-immediate with annual payments. The odd numbered payments are P and even numbered payments are 2P. The present values of Cheryl's annuity as well as David's perpetuity are equal if they are computed using i=5%. Compute P. The answer in the back of the book is $2,688.48.