After incurring a serious injury caused by a manufacturing defect, your uncle has sued the manufacturer for damages. You were given $3$ settlement options:

Option $1$: Receive an immediate cash payment of $$100,000.$

Option $2$: Receive $$10,000$ per year for life.

Option $3$: Receive $$7,000$ per year for $15$ years and then $$75,000$ in $15$ years.

Your uncle has a remaining life expectancy of $20$ years and can earn $8\%$ interest on investments. Calculate the present values of each option:

$^$Use PV Excel formulas

Which settlement option would you recommend to your uncle and why?

Please solve using the $=$PV function in excel