calculate the present value of each option

After completing a long and successful career as senior vice president for a large bank, you are preparing for retirement. After visiting the human resources office, you have found that you have several retirement options to choose from: a. An immediate cash payment of $1 million. b. Payment of $92,000 per year for life. c. Payment of $82,000 per year for 10 years and then $95,000 per year for life (this option is intended to give you some protection against inflation). You believe you can earn 8 percent on your investments and your remaining life expectancy is 20 years. Required: 1. Calculate the present value of each option. (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Enter your answers in dollars but not in millions. Round the final answer to nearest whole dollar.) & Answer is complete but not entirely correct. Present Value Option A $ 1,000,000 Option B $ 953,460 Option C $ (901,077)