4. As a winner of a competition, you can choose from one of the following prizes:

If the interest rate is 12%, which option would you choose?

A. $100,000 now

B. $180,000 at the end of five years

C. 10 end-of-the-year receipts of 19,000 each

D. 8 beginning-of-the-year receipts of 19,877 each