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 $1.12 million. b. Payment of $65,000 per year for life. c. Payment of $55,000 per year for 4 years and then $75,000 per year for life (this option is intended to give you some protection against inflation) You believe you can eam 8 percent on your investments and your remaining life expectancy is 8 years: Required: 1. Calculate the present value of each option. Euture Value of S1. Present Value of S1. Euture Value Annuify of 51, Present Volue Annulty 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.) TABLE 11.1A Fiture Value of \$1 TABLE 11.2A Present Value of \$1 TABLE 11.3A Future Value of an Annulty of $1 TABLE 11.4A Present Volue of Annity of St