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A $1,500,000 state lottery prize is spread evenly over ten years ($150,000 a year) (Alternative 1), or you may take a lump distribution of

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A $1,500,000 state lottery prize is spread evenly over ten years ($150,000 a year) (Alternative 1), or you may take a lump distribution of $1,381,000 (Alternative 2). If you can earn 8 percent, calculate the present values of both alternatives. Use Appendix D to answer the question. Round your answers to the nearest dollar. PV(Alternative 1) $ PV (Alternative 2): $ Which alternative is better? Select

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