The problem asks for the present value of a perpetuity with annual payments. The first payment of $4599.99 is in one year, and each payment is the same amount. We need to round the answer to two decimal places. However, the interest rate is missing from the problem. We will assume the interest rate is 10% to complete the calculation.

1. Problem Description

The problem asks for the present value of a perpetuity with annual payments. The first payment of $4599.99 is in one year, and each payment is the same amount. We need to round the answer to two decimal places. However, the interest rate is missing from the problem. We will assume the interest rate is 10% to complete the calculation.

2. Solution Steps

The formula for the present value of a perpetuity is:

$PV = \frac{C}{r}$

where $PV$ is the present value, $C$ is the cash flow (payment), and $r$ is the discount rate (interest rate).

In this case, $C = 4599.99$. Assuming $r = 0.10$ (10%), we have:

$PV = \frac{4599.99}{0.10}$

$PV = 45999.90$

3. Final Answer

Assuming an interest rate of 10%, the present value of the perpetuity is $45999.90.