Calculate the present value for each payout.

Option #1:

Option #2:

Option #3:

The option you would you prefer is the one that has the (LOWEST/HIGHEST) present value. Therefore,

(OPTION1/OPTION2/OPTION3) would be the preferred payout option.

Congratulations! You've won a state lotto! The state lottery offers you the following (after-tax) payout options EEE (Click the icon to view the payout options.) (Click the icon to view the present value factor table.) (Click the icon to view the present value annuity factor table.) (Click the icon to view the future value annuity factor table.) Requirement Assuming that you can earn 6% on your funds, which option would you prefer? (Round your answers to the nearest whole dollar.) Calculate the present value for each payout. Option #1: Data Table Option #1 : $12,000,000 five years from now Option #2: $2,300,000 at the end of each year for the next five years Option #3: $10,500,000 three years from now Print Done Present Value of $1 Present Value of Annuity of $1 Periods | 1% | 2% | 3% | 4% | 5% | 6% | 8% | 10% | 12% | 14% | 16% | 18% | 20% 1 0.990 0.980 0.9710.9620.952 0.943 0.926 0.909 0.893 0877 082 0.847 0.833 2 0980 0961 0.943 0.925 0.907 0,8O 0.857 0.826 0.797 0.769 0.743 0.718 0.694 3 0971 0942 0915 0.889 06 0.B40 0.79407 0.712 0.675 0641 0.609 0.579 0961 0924 OBB80.a55 0823 0.792 0.735 0.683 0.636 0.592 552 0.516 0.482 0951 090 0.B63 0.822 0.784 0.747 0.681 0.621 0.567 0.519 0.4760437 0.402 Periods| 1% | 2% | 3% | 4% | 5% | 6% | 8% | 10% | 12% | 14% | 16% | 18% l 20% 10990 0.980 097109620952 0930.92 0.909 0893 0.877 0.8620.847 0.833 1.970 1942 1913 1B88 1859 1833 1.783 1.736 1690 1647 1605 1.566 1.528 3 2941 2884 2829 2775 2723 2673 2.577 2482402 2.322 2.246 2.174 2.105 3902 3808 3.7173630 3546 3.465 3.312 3.170 3037 2.914 2.798 2.690 2.589 4.853 4.713 4580 4452 4329 4212 3.993 3.791 3.605 3.433 3.2743.127 2.991 5795 5.601 | 5417 | 5242 5.076 4.917 4623 | 4.355 | 3.685 | 3.498 | 3.326 7 6.728 6.472 6230 6.0025786 5582 5.206 4868 4564 4.288 40393812 3.605 8 7652 7325 7020 6.7336463 6210 5.747 5335 4968 4.63943444078 3.837 9 8.566 8.162 7.786 74357.108 6802 6.247 5759 53284.94 4.6074.303 4.031 10 9471 8.983 | 8.530 3.111 7.722 7.360 6.710 3.145 5660 5.216 | 4.833 | 4.494 4.192 11 10.368 9.787 9253 8760 8.306 78877.139 6.495 5938 5453 5.029 4.656 4.327 11255 10.575 9954 9385 8863 8.384 7.536 6814 6.194 5.660 5.197 4.793 4.439 13 12134 11348 10.635 9986 93948853 7.904 7.103 6424 5.842 5342 4910 4.533 14 13004 12.106 11296 10.563 98999295 8.244 7.367 6628 6.002 5.468 5008 4.611 15 13865 12849 11.938 11.118 10.3809.7128.557.606 6811 6.142 5.575 5024.675 20 18046 16.351 14.877 13.590 12462 11.470 9.B18 8.514 7.489 6.6235.9295.353 4.870 25 22023 19.523 17.413 15.622 14.094 12.783 10.675 9.0777.843 6.B73 6.097 5467 4.948 25808 22396 19.600 17292 15.372 13.765 11.258 9427 8.055 7.003 6.177 5.517 4.979 40 32835 27355 23.115 19793 17.159 15.046 11.925 9.779 8244 7.105 6.233 5.548 4.997 0942 0888 0.837 0.790 0.746 0.705 0.630 0.564 0.507 0.4560410 0.370 0.335 70933 0.871 0.813 0.760 0711 0.665 0.583 0.513 0.452 0.400 0354 0.314 0.279 8 0923 0853 0.789 0.7310.677 0.627 0.540 0467 0.404 0.351 0.305 0.266 0.233 9 0.914 0837 0.76 0.7030.645 0.592 0.500 0424 0.361 0.308 0.2630.225 0.194 10 0905 08200744 0676 0614 0.55 0.463 0386 0.322 0.270 0227 0.19 0.162 4.111 3.889 0.896 0.804 0722 0.650 0.585 0.5270.429 0.350 0.287 0.237 0.195 0.162 0.135 0887 0.788 0.701 0625 0.557 0.497 0.397 0.319 0.257 0.208 0.168 0.137 0.112 13 0879 0.773 0681 06010.5300.469 0.368 0290 0.229 0.182 0.145 0.116 0.093 0870 0.758 0661 0.577 0.505 044 0.340 0263 0,205 0.160 0,125 0,099 0.078 15 0861 0.743 0.642 055504810417 0.315 0.239 0.183 0.140 0.108 0.084 0.065 20 | 0.820 | 0.573 | 0.554 | 0.456 | 0.377 | 0.312 | 0.215 | 0.149 | 0.104 | 0.073 | 0.051 | 0.037 | 0.026 25 0780 0.810 0.478 0.375 0295 0.233 0.146 0.082 0.050.03 0.024 0.016 0.010 0.742 0.552 04120.308 0.231 0.174 0.099 0.057 0.033 0.020 0.012 0.007 0.004 40 0672 0453 0307 0.208 0.142 0.097 0.046 0.022 0.011 0.005 0.003 0.001 0.001 2 4 33 025 85 11-39 11 4968 23 46 2-1 11122 23456 78 74 39 '1 8 47 96 7 8-13692 71742 1251g 36 11-12 23345 678 5 0611 683-7 686 67 4887 905 1-1 1 1 1 2 22334 55679 148 955 829 4-1 3 4 6 9 15827 2 8 8421 7-46 96 2233 44567 13 542 416 76 717 57 924 374 6 2 0% 1 2 3 4 1 291 58 59 584 97 77 27 3.5 48 250 075 23334 6 10 9 741 7891 5791 4. 6 10 2 1 9 7 6 6 2 ut 69 0 1 1 2 3 45567 80123 227 50 1 1 2 2 77890 6 507 5693 271 6162 4 00112 23344 0 8 1628 234 3 3 0 0 0 1 1 1223 34455 8042 69259 38 2479-46 96 6118 2 9 46 0 12345 05 12345 6789 Reference Future Value of Annuity of $1 1296 t- 1000 | 2.160 | 3.572 | 5.368 20% 1.000 2.200 3.572 3.640 Periods 14% 16% 1.000 1.000 2.010 3.030 4.060 5.101 1.000 1.000 1.000 2.040 3.122 4.246 1.000 2.050 3.153 4.310 1.000 1.000 2.080 3.246 4.506 1.000 2.100 3.310 4.641 1.000 1.000 3.184 4.375 3.374 4.779 2.140 3.440 4.921 3.506 5.066 5.215 5.204 5.3095.416 5.526 5.637 5.8676.105 6.353 6.610 6.8777.154 7.442 6.468 7.662 8.892 10.15910.58311.027 11491 12.48813.579 14.776 16.085 17.51919.086 20.799 7.336 8.923 6.152 7.214 8.286 9.369 6.308 7.434 6.633 7.898 9.214 6.802 8.142 9.549 6.975 8.394 9.897 7.716 9.487 8.977 10.08910.730 1414 12.14212.916 8.536 9.442 9.930 10.637 11.43612.300 13.233 14.24015.32716.499 9.755 10.46210.950 11.464 12.00612.57813.181 14.487 15.937 17.54919.337 21.321 23.52125.959 11.567 12.169 2.808 13.48614.20714.972 16.645 18.53120.655 23.045 25.733 28.75532.150 12.683 13.41214.192 15.02615.91716.870 8.977 21.384 24.133 27.271 30.850 34.93139.581 13.80914.680 5.618 16.62717.713 18.882 21.49524.523 28.02932.089 36.786 42.21948.497 14.947 15.974 17.086 18.29219.599 21.015 24.21527.975 32.39337.58143.672 50.81859.196 16.09717.293 18.599 20.02421.57923.276 27.15231.772 37.28043.842 51.660 60.96572.035 22.01924.297 26.870 29.77833.066 36.78645.76257.275 72.052 91.025 15.380 146.628 186.688 28.24332.030 36.459 41.64647.727 54.865 73.10698.347 133.334 181.871249.214 342.603471.981 34.785 40.568 47.575 56.085 66.43979.058113.283 164.494 241.333 356.787530.312 790.948 1,181.882 12 13 14 15 20 25 30 40 48.886 60.402 75.40 95.026120.800 154.762 259.057 442.593767.0911,342.025 2,360.757 4,163.213 7,343.858 PrintDone