Crissie just won the lottery, and she must choose between four award options.

She can elect:

Option 1: to receive a lump sum today of $61 million,

Option 2: to receive 10 end-of-year payments of $9.5 million,

Option 3: to receive 30 start-of-year payments of $5.5 million.

Option 4: to receive 20 payments of $6 million at the beginning of each year for 20 years.

If she thinks she can earn 7% annually, which option should she choose? (Hint: calculate PV for all options and select the option having the highest PV).