Barrett Company is facing financial difficulties and has decided to encourage some of their highly paid employees to take early retirement. Michelle, their CFO, is 50 years old and is considering their offer. On November 1, the company offered Michelle three alternative compensation packages: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. $185,000 cash payment to be paid immediately. 2. A 13-year annuity of $22,000 beginning immediately. 3. A 10-year annuity of $62,000 beginning on November 1 of the year Michelle reaches age 60 (after 10 years). Required: Determine the present value of each alternative, assuming