Which of the following is used as the denominator while calculating the present value for a growing perpetuity that begins next period (PVP)?
a. g (the constant rate of growth of the cash flow)
b. The difference between i (the discount or interest rate) and g (the constant rate of growth of the cash flow)
c. i (the discount or interest rate)
d. The addition of i (the discount or interest rate) and g (the constant rate of growth of the cash flow)