Congratulations! You've won a state lotto! The state lottery offers you the following (after-tax) payout options

Option #1: $14,000,000 six years from now

Option #2: $2,050,000 at the end of each year for the next six years

Option #3: $12,500,000 four years from now

Assuming that you can earn 10% 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

OPTION 2

OPTION 3