Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options (Click the icon to view the payout options) (Click the icon to view Present Value of $1 table.) Click the icon to view Present Value of Ordinary Annuity of $1 table) (Click the icon to view Future Value of $1 table) (Click the icon to view Future Value of Ordinary Annuity of S1 table) Assuming you can eam 8% on your funds, which option would you prefer? The present value of the payout is (Round your answers to the nearest whole dollar) Option 11 Option 112 Option 13 (Enter your answer as a numeral 9. 1.) has the highest present value using the 8% discount rate. Therefore, it appears to be the most Payout Option favorable option Option #1: $15,000,000 four years from now Option #2: $2,000,000 at the end of each year for the next six years Option #3: $14,000,000 three years from now Present Value of $1 0.402 | Periods) 1% | 2% | 3% | 4% | 5% | 6% | 8% | 10% | 12% | 14% | 16% | 18% | 20% 10.990 | 0.980 | 0971 | 0.962 | 0.952 | 0.943 | 0.926 | 0.909 | 0.893 | 0.877 | 0.862 | 0.847 | 0.833 10.980 | 0.961 | 0.943 | 0.925 | 0.907 | 0.890 | 0.857 | 0.826 | 0.797 | 0769 | 10.743 | 0718 | 0694 10.971 10.942 | 0.915 | 10.889 | 0.864 | 0.840 0.794 | 0.751 | 0.712 0.675 | 0641 | 0609 0.579 10.961 | 10.924 | 0.888 0.855 | 0.823 | 0.792 0.735 | 0.683 | 0.636 10.592 10.552 | 0.516 0.482 0.951 0.906 | 0.863 0.822 0.784 | 0.747 0.681 10.621 || | 0.567 10.519 10.476 0.437 0.942 10.888 | 0.837 0.790 | 0.746 | 0.705 0.630 10.564 | 0.507 10.456 | 0410 0.370 | 0.335 0.933 0.871 10.813 0.760 | 0.711 | 0.665 0.583 10.513 10.452 0.400 | 10.354 0.314 | 0.279 0.923 0.853 | 0.789 10.731 | 0.677 | 0.627 0.540 10.467 | 0.404 0.351 10.305 0.266 | 0.233 0.914 0.837 0.766 0.703 | 0645 | 0.592 0.500 10.424 | 0.361 0.308 | 0.263 0.225 | 0.194 0.905 0.820 10.744 10.676 | 0.614 | 0.558 0.463 | 0.386 | 0.322 10.270 10.227 0.191 | 0.162 0.804 0.722 | 0.650 | 0.585 | 0.527 0.429 10.350 | 0.287 | 0.237 | 0.195 | 0.162 0.135 887 0.788 0.701 | 0.625 | 0.557 | 0.497 0.397 10.319 | 0.257 | 0.208 0.168 0.137 0.112 0.773 0.681 | 0.601 | | 0.530 | 0.469 0.368 0.290 | 0.229 | 0.182 0.145 | 0.116 0.093 10.758 10.661 | 0577 | 0.505 | 0.442 0.340 10.263 | 0.205 | 0.160 | 0.125 10.099 0.078 | 0.743 | 0.642 | 0.555 | 0.481 0.417 0.315 | 0.239 | 0.183 | 0.140 0.108 0.084 0.065 0.820 | 0673 | 0.554 | 0456 | 0.377 | 0.312 0215 10.149 10 14 10073 | 0.051 | 0.037 | 0.026 0.780 0.610 ) | 0.478 10.375 | 0.295 | 0.233 0.146 | 0.092 | 0.059 || 0.038 10.024 10.016 0.010 0742 10.552 1047 10.308 10.231 10.14 10.099 10.057 1003 10020 1002 10.007 10004 40 0.672 | 0.453 | 0.307] 0.208 | 0.142 | 0.097] 0.046 | 0.022 | 0.011 | 0.005 | 0.003 | 0.001 | 0.001 0.870 0.861 ) Future Value of $1 Periods 1% 1.010 1.020 1.030 1.041 1.051 3% 1.030 1.061 1.093 1.126 1.159 1.194 1.062 2% 1.020 1.040 1.061 1.082 1.104 1.126 1.149 1.172 1.195 1.219 1.243 1.268 1.294 1.319 1.346 1.486 1.641 1.811 2.208 4% 1.040 1.082 1.125 1.170 1.217 1.265 1.316 1.369 1.423 1.480 1.539 1.601 1.665 8% 1.080 1.166 1.260 1.360 1.469 1.587 1.714 1.851 1.999 2.159 1.230 5% 1.050 1.103 1.158 1.216 1.276 1.340 1.407 1.477 1.551 1.629 1.710 1.796 1.886 1.980 2.079 2.653 3.386 4.322 7.040 6% 1.060 1.124 1.191 1.262 1.338 1.419 1.504 1.594 1.689 1.791 1.898 2.012 2.133 2.261 2.397 1.072 1.083 1.094 1.105 1.116 1.127 1.138 1.149 1.161 1.220 1.282 1.348 1.489 18% 1.180 1.392 1.643 1.939 2.288 2.700 3.185 3.759 4.435 5.234 1.267 1.305 1.344 10% 12% 1.100 1.120 1.210 1.254 1.331 1.405 1.464 1.574 1.611 1.762 1.772 1.974 1.949 2.211 2.144 2.476 2.358 2.773 2.594 3.106 2.853 3.479 3.138 3.896 3.452 4.363 3.797 4.887 4.177 5.474 6.727 9.646 10.835 17.000 17.449 29.960 45.25993.051 14% 16% 1.140 1.160 1.300 1.346 1.482 1.561 1.689 1.811 1.925 2.100 2.195 2.436 2.502 2.826 2.853 3.278 3.252 3.803 3.707 4.411 4.226 5.117 4.818 5.936 5.492 6.886 6.261 7.988 7.138 9.266 13.743 19.461 26.462 40.874 50.950 85.850 188.8841 378.721 20% 1.200 1.440 1.728 2.074 2.488 2.986 3.583 4.300 5.160 6.192 7.430 8.916 10.699 12.839 15.407 38.338 95.396 237.376 1,469.772 6.176 1.732 1.384 1.426 1.469 1.513 1.558 1.806 2.094 2.427 3.262 1.801 2.332 2.518 2.720 2.937 3.172 4.661 6.848 10.063 21.725 7.288 8.599 10.147 11.974 27.393 62.669 143.371 750.378 2.191 2.666 3.243 4.801 3.207 4.292 5.743 10.286 Periods 20% 0.833 16% 0.862 1.605 2.246 2.798 3.274 4.623 1% 2% 0.990 0.980 1.970 1.942 2.9412.884 3.902 3.808 4.853 4.713 5.795 5.601 6.728 6.472 7.652 7.325 8.566 8.162 9.471 8.983 10.368 9.787 11.255 10.575 12.134 11.348 13.004 12.106 13.865 18.046 16.351 22.023 19.523 25.808 22.396 32.835 27.355 Present Value of Annuity of $1 3% 4% 5% 6% 8% 10% 12% 14% 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 3.717 | 3.630 3.546 3.465 3.312 3.170 3.037 2.914 4.580 4.452 4.329 4.212 3.993 3.791 3.605 3.433 5.417 5.2425.076 4.917 4.355 4.111 3.889 6.230 6.002 5.786 5.582 5.206 4.868 4.564 4.288 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 7.786 7.435 7.100 6.802 6.247 5.759 5.328 4.946 8.530 8.111 7.722 7.360 6.145 5.650 5.216 9.253 8.760 8.306 7.887 7.139 6.495 5.938 5.453 9.954 9.385 8.863 8.384 7.536 6.814 6.194 5.660 10.635 9.986 9.394 8.853 7.904 7.103 6.424 5.842 11.296 10.563 9.899 9.295 8.244 7.367 | 6.628 6.002 11.118 10.380 9.712 8.559 7.606 6.811 6.142 14.877 13.590 12.462 11.470 9.818 8.514 7.469 | 6.623 17.413 | 15.622 14.094 12.783 10.675 9.077 7.843 19.600 17.292 15.372 13.765 11.258 9.4278.055 7.003 23.115 19.793 17.159 15.046 11.925 9.779 | 8.244 7.105 3.685 4.039 4.344 4.607 4.833 5.029 5.197 18% 0.847 1.566 | 2.174 2.690 3.127 3.498 3.812 4.078 4.303 4.494 4.656 4.793 4.910 5.008 2.106 2.589 2.991 3.326 3.605 3.837 4.031 4.192 4.327 4.439 4.533 6.710 5.342 4.611 5.468 5.575 5.092 5.929 6.873 6.097 6.177 6.233 5.353 5.467 5.517 5.548 4.675 4.870 4.948 4.979 4.997 Periods 12% 6.610 1% 1.000 2.010 3.030 4.060 5.101 6.152 7.214 8.286 9.369 10.462 11.567 12.683 13.809 14.947 16.097 22.019 28.243 34.785 48.886 2% 1.000 2.020 3.060 4.122 5.204 6.308 7.434 8.583 9.755 10.950 12.169 13.412 14.680 15.974 17.293 24.297 32.030 40.568 60.402 3% 1.000 2.030 3.091 4.184 5.309 6.468 7.662 8.892 10.159 11.464 12.808 14.192 15.618 17.086 18.599 4% 1.000 2.040 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 29.778 41.646 56.085 95.026 Future Value of Annuity of $1 5% 6% 8% 10% 1.000 1.000 1.000 1.000 2.050 2.060 2.080 2.100 3.153 3.184 3.246 3.310 4.310 4.375 4.506 4.641 5.526 5.637 5.867 6.105 6.802 6.975 7.336 7.716 8.142 8.394 8.923 9.487 9.549 9.897 10.637 11.436 11.027 11.491 12.488 13.579 12.578 13.181 14.487 15.937 14.207 14.972 16.645 18.531 15.917 16.870 18.977 21.384 17.713 18.882 21.495 24.523 19.599 21.015 24.215 27.975 21.579 23.276 27.152 31.772 33.066 36.786 45.762 57.275 47.727 54.865 73.106 98.347 66.439 79.058 113.283 164.494 120.800 154.762 259.057 442.593 14% 1.000 1.000 2.120 2.140 3.374 3.440 4.779 4.921 6.353 8.115 8.536 10.089 10.730 12.300 13.233 14.776 16.085 17.549 19.337 20.655 23.045 24.133 27.271 28.029 32.089 32.393 37.581 37.280 43.842 72.052 91.025 133.334 181.871 241.333356.787 767.091 1,342.025 16% 1.000 2.160 3.506 5.066 6.877 8.977 11.414 14.240 17.519 21.321 25.733 30.850 36.786 43.672 51.660 115.380 249.214 530.312 2,360.757 18% 1.000 2.180 3.572 5.215 7.154 9.442 12.142 15.327 19.086 23.521 28.755 34.931 42.219 50.818 60.965 146.628 342.603 790.948 4,163.213 20% 1.000 2.200 3.640 5.368 7.442 9.930 12.916 16.499 20.799 25.959 32.150 39.581 48.497 59.196 72.035 26.870 36.459 47.575 75.401 186.688 471.981 1,181.882 7,343.858