Victor wants to purchase a perpetuity paying 210 per year with the first payment due at the end of year 17. He can purchase it by either:
(i) paying 120 per year at the end of each year for 16 years; or
(ii) paying K per year at the end of each year for the first 6 years and nothing for the next 10 years.
Calculate K. [3.d-f #21]