Afer completing a long and successful career as senior vice president for a largo bank, you are preparing for retirement. After visiting the human resources office, you found that you have several retirement options to choose from: a. An immediate cash payment of $1.11 million. b. Payment of $63,000 per year for life. c. Payment of $53,000 per year for the first 3 years and then $73,000 per year for the remainder of your life (this option is intended to give you some protection against inflation): You believe you can earn 7 percent on your investments, and your remaining life expectancy is 6 years. Required: 1. Colculate the present value of each option. Euture Value ois1. Present Value of S1. Euture Value Annuily of S1, Present Value Annuityor(si) 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. Calculate the present value of esch option, (Future Value of $1, Present Value of $1, Future Value Annuity of $1. Present Value Annuity of \$1.) Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. Do not round intermediate calculations. Enter your answers in whole Note: Use appropriate factor(s) from the tables provided: Do not round dollars, not in millions. Round the final answer to nearest whole dollar: After completing a long and successful career as senior vice president for a large bank, you are preparing for retirement. After visiting the human resources office, you found that you have several retirement options to choose from: a. An immediate cash payment of $1.11 million. b. Payment of $63,000 per year for life. c. Payment of $53,000 per year for the first 3 years and then $73,000 per year for the remainder of your life (this option is intended to give you some protection against inflation). You believe you can earn 7 percent on your investments, and your remaining life expectancy is 6 years. Required: 1. Calculate the present value of each option. Future Value of $1. Present Value of $1, Future Value Annuity of $1. Present Value Annulty of $1 ) 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. Determine which option you prefer