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 have found that you have several retirement options to choose from: a. An immediate cash payment of $1.13 million. b. Payment of $69,000 per year for life. c. Payment of $59,000 per year for 5 years and then $79,000 per year for 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 10 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 Annuity of $1.) (Use appropriate factor(s) from the tables provided. Do not round intermediate calculations. Enter your answers in whole dollars, not in millions. Round the final answer to nearest whole dollar.)