Boris Miller has contracted to sell a piece of land that he owns, which has permission for a residential development. A property developer is willing to buy the land and has proposed two methods of payment. The developer is willing to pay £150,000 now or a deferred payment over the next 4 years paying £40,000 at the end of year 1, £30,000 at the end of year 2, £50,000 at the end of year 3, and £60,000 at the end of year 4. Boris wants to use the proceeds at the end of year 5 to start a business and is concerned about future value of his receipts at the end of year 5. He can earn 4% annual interest from his investment account. Which alternative should Boris choose?