Jane Bauer has won the lottery and has the following four options for receiving her winnings:

1.Receive $100,000 at the beginning of the current year

2.Receive $108,000 at the end of the year

3.Receive $20,000 at the end of each year for eight years

4.Receive $10,000 at the end of each year for 30 years Jane can invest her winnings at an interest rate of 8% compounded annually at a major bank.

Use the appropriate present or future value table: FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1 Calculate the Present value for each of the above options. Round all answers to the nearest dollar.

Present Value

Option 1 $

Option 2 $

Option 3 $

Option 4 $