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 $156,000 immediately as her full retirement benefit. Under the second option, she would receive $19,000 each year for fifteen years plus a lump-sum payment of $64,000 at the end of the fifteen-year period. Click here to view Exhibit 118-1 and Exhibit 118-2, 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 13%. Use the appropriate table to determine the discount factor(s).) Present Value of First Option Cash Flow Discount Factor-Present Value Lump-sum payment Present Value of Second Option Cash FlowDiscount FactorPresent Value Annual annuity Lump-sum payment Total present value 1b If you can invest money at a 13% return, which option would you prefer? O First option Second option