Jim wins the $2,000,000 lottery. He has the option to take a lump sum payment of $1,320,000 or $100,000 for the next 20 years. If Jim's time value of money is 6.5% which option should he choose? Option 2 because $3,882,531 is greater than $1,320,000 Option 1 because $1,320,000 is greater than $1,173,471 Option 2 because $4,134,895 is greater than $1,320,000 Option 1 because $1,320,000 is greater than $1,101,851