Julie has just retired. Her company's retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $135,000 immediately as her full retirement benefit. Under the second option, she would receive $18,000 each year for twelve years plus a lump-sum payment of $54,000 at the end of the twelve-year period. Click here to view Exhibit 11B-1 and Exhibit 11B-2, to determine the appropriate discount factor(s) using tables. Required: 1a. Calculate the present value for the following assuming that the money can be invested at 11%. (Use the appropriate table to determine the discount factor(s).) 1b. If you can invest money at a 11% return, which option would you prefer? First option Second option