Chuck has just won the Flyball Lottery. He has two options for receiving his prize. The first option is to accept a $126,000 cash payment today. The second option is to receive $22,600 at the end of each of the next 15 years and a $30,800 lump sum payment in the 16th year. Chuck can invest money at a 7% rate. Click here to view the factor table. (a) Calculate the present value of the two options. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to O decimal place, e.g. 58,971.) Option 1 Option 2 $ 126000 $ 486362 Present value Which option should Chuck choose to receive his winnings? Option 1 (b) If Chuck could invest money at 10%, calculate the present value of the two options. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to O decimal place, e.g. 58,971.) Option 1 Option 2 Present value $ 126000 $ 179271