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 $1.14 milion. b. Payment of $63,000 per year for life. c. Payment of $53,000 per year for 4 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 7 percent on your investments and your remaining life expectancy is 8 years. Required: 1. Calculate the present value of each option. (Euture Value of \$1. Present Value of S1. Euture Value Annuity of \$1. Present Value Annuity of S1.) (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.)