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1.Mr. Ritchie Richman has offered to give The Long Term Care Center $100,000 today or $300,000 when he dies. If the nursing home earns 14%

1.Mr. Ritchie Richman has offered to give The Long Term Care Center $100,000 today or $300,000 when he dies. If the nursing home earns 14% on its investments, and it expects Mr. Richman to live for 12 years, which alternative should it take? (Should it receive Mr. Richman's gift now or later?) Discuss in narrative and include your calculations and citations as well.

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