The present worth of an infinitely long uniform series of cash flows is equal to A company undertakes a 5-year project that requires annual payments. Payment for the first yearis $2 000. It will then increase by 5% each subsequent year. The interest is fixed at 5% a year. What is the present worth of this cash flow?

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation