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After hearing a knock at your front door, you are surprised to see th 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 th 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. Prosent 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. 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 thenearest whole dollar. Enter your answers in dollars, not in millions

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