Jack just discovered that he holds the winning ticket for the $87 million mega lottery in Missouri. Now he needs to decide which alternative to choose: (1) a $44 million lump-sum payment today or (2) a payment of $2.9 million per year for 30 years; the first payment will be made today. If Jack's opportunity cost is 5 percent, which alternative should he choose?

**Please answer on EXCEL SPREADSHEET USING THE METHOD BELOW**

Note: According to the equation shown in cell C8, the input values must be entered in a spench order: I/Y, N, PMT, FV, and PMT type. PVA(D) As describ the BGN1 PV of an Annuity Due-PVA(DUE)