a) You have won a lottery and can choose to receive the payment under one of the following two arrangements: (1) $250,000 every six months forever, or (2) fixed payments of $X every six months for 15 years. Suppose the relevant half-yearly rate is 5% and the payments under both arrangements will start immediately. i) How much is the lottery worth today under Arrangement (1)? ii) What is the amount of $X in Arrangement (2) so that it has the same value as Arrangement (1)