301 32 A 65-year-old ran intends to use his retirement funds to purchase an annuity from a life insurance company. Given the amount of money the man has available to invest, the insurance company is able to offer two alternatives. The first option is to receive $2,481 each month for as long as he lives the second option is to receive $2,830 each month, but for only 20 years (payments will be made to his estate if he should die before that time). The relevant interest rate is 6 percent per year monthly compounding How long must the man live so that the first option is a better deal? (Note: please retain at least 4 decimal places in your calculations.) Select one: O a. 90 O b. 97 O c. 92 O d. 100 O e. 89