Which of the following statements is true of a perpetuity
A) A perpetuity has a fixed maturity
B) The present value of each payment made by a perpetuity is less than the previous payment
C) The present value of a perpetuity that pays $100 every year when the annual rate of discount is 5% is $1,000
D) The present value of a perpetuity that pays $200 every year when the annual rate of discount is 7% is $1,750