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 $1.07 million. b. Payment of $63,000 per year for life. c. Payment of $53,000 per year for 5 years and then $73,000 per year for life (this option is intended to give you some protection against inflation). You believe you can earn 9 percent on your investments and your remaining life expectancy is 10 years. Required 1. Kht Irakit t i s mctprta w aliW3 t te3 Egelim Futu e Value 0 1, Present Val eof$1 Future Value Annuity ) $1 Present Value Annu y O $1 3 (Use appropriate factor(s) from the tables provided. Enter your answers in dollars but not in millions. Round the final answer to nearest whole dollar.) Net Present Value Option A Option B Option C 107,000 2. Determine which option you prefer. Option A Option B O Option C