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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 $39 million. You have three options: a. Receive $1.95 million per year for the next 20 years. b. Have $12.75 million today. c. Have $2.75 million today and recelve $1,650,000 for each of the next 20 years. Your financlal adviser tells you that it is reasonable to expect to earn 13 percent on investments Required: 1. Calculate the present value of each option. (Future Value of \$1.Present Value of S1. Future Value Annuity of \$1. Present Value Annuly of $1. 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. Caiculate 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 vour answers in doltars, not in militions

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