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d) By negotiating the sale of one of your trademarks, you obtained the following offers: 1. $1,000,000 now, 2. $2,000,000 in 5 years, 3. $150,000 

d) By negotiating the sale of one of your trademarks, you obtained the following offers: 1. $1,000,000 now, 2. $2,000,000 in 5 years, 3. $150,000 per year in perpetuity, 4. $250,000 per year for the next 10 years. If the annual effective rate of return is 15%, which of these offers is the most attractive?

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