After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscription company. It has arrived with the good news that you are the big winner, having won $37 million. You have three options: a. Recelve $1.85 million per year for the next 20 years. b. Have $12.25 million today. c. Have $2.25 million today and recelve $1,550,000 for each of the next 20 years: Your financial adviser tells you that it is reasonable to expect to earn 14 percent on investments. Required: 1. Calculate the present value of each option. (Euture Value of $1, Present Value of $1, Euture Value Annuity of $1, Present Value Annuity of \$1.) 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. 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. Note: Use appropriate factor(s) from the tables provided. Round your final answer to the nearest whole dollar Enter your answers in doliars, not in milions. After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscription company. It has arrived with the good news that you are the big winner, having won $37 millon. You have three options: a. Recelve $1.85 million per year for the next 20 years. b. Have $12.25 million today. c. Have $2.25 milion today and receive $1,550,000 for each of the next 20 years. Your financial adviser tells you that it is reasonable to expect to earn 14 percent on investments. 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. 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. Determine which option you prefer. After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscription company. It has arrived with the good news that you are the big winner, having won $37 million. You have three options: a. Recelve $1.85 million per year for the next 20 years. b. Have $12.25 million today. c. Have $2.25 million today and recelve $1,550,000 for each of the next 20 years: Your financial adviser tells you that it is reasonable to expect to earn 14 percent on investments. Required: 1. Calculate the present value of each option. (Euture Value of $1, Present Value of $1, Euture Value Annuity of $1, Present Value Annuity of \$1.) 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. 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. Note: Use appropriate factor(s) from the tables provided. Round your final answer to the nearest whole dollar Enter your answers in doliars, not in milions. After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscription company. It has arrived with the good news that you are the big winner, having won $37 millon. You have three options: a. Recelve $1.85 million per year for the next 20 years. b. Have $12.25 million today. c. Have $2.25 milion today and receive $1,550,000 for each of the next 20 years. Your financial adviser tells you that it is reasonable to expect to earn 14 percent on investments. 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. 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. Determine which option you prefer