Julia Baker died, leaving to her husband Newman an insurance policy contract that provides that the beneficiary (Newman) can choose any one of the following four options. Money is worth 2.5% per quarter, compounded quarterly. Compute Present value if:

(a) $59,170 immediate cash

b. $4,030 every 3 months payable at the end of each quarter for 5 years.

(c) $19,360 immediate cash and $1,936 every 3 months for 10 years, payable at the beginning of each 3-month period.

(d) $4,030 every 3 months for 3 years and $1,610 each quarter for the following 25 quarters, all payments payable at the end of each quarter.

e. Which option would you recommend that Newman exercise?