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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

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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 $29 million. You have three options, (a) Receive $1.45 million per year for the next 20 years. (b) Have $10.25 million today. (c) Have $2 million today and receive $1,150,000 for each of the next 20 years. Your financial adviser tells you that it is reasonable to expect to earn 12 percent on investments Required: 1. Calculate the present value of each option (Euture Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annulty of S1) (Use appropriate factor(s) from the tables provided. Round your final answer to the nearest whole dollar. Enter your answers in dollars, not in millions.) Option A Option Option $ $ $ Present Value 10.830.050 10.250,000 23,527,350

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