What’s the difference in terms of the prices today between an ordinary perpetuity of $100 per year and a delayed perpetuity of the same amount with the first payment in year 3?
A. The present value of a lump sum payment of $100 in year 4
B.The present value of a 2-year annuity with an annual payment of $100
C. The present value of a 3-year annuity with an annual payment of $100
D. The present value of a 4-year annuity with an annual payment of $100