A company offers its unionized employees either a) a one-time up-front $1500 per-employee bonus, or b) a permanent $250/year raise (paid at the end of each year) and a one-time $500 retirement bonus (paid on the employees last day of work). Assume the average worker has 5 years left until retirement.

Which option should the average worker favor if:

i.) i = .05

ii) i = .1