As a settlement for an insurance claim, Craig was offered one of two choices. He could either accept a lump-sum amount of $6991 now, or accept monthly payments of $166 for the next four years. If the money is placed into a trust fund earning 5.34% compounded semi-annually, which is the better option and by how much?

The _(lump sum or monthly payments)_ option is better by $_____?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)