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 $136,000 immediately as her full retirement benefit. Under the second option, she would receive $25,000 each year for five years plus a lump-sum payment of $55,000 at the end of the five-year period Click here to view Exhibit 13B-1 and Exhibit 13B-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 1 1%. (Round discount factor(s) to 3 decimal places.) Present Value of First Option Cash Flow | Discount Factor | | Present Value Lump-sum payment Present Value of Second Option Cash Flow | Discount Factor 1-1 Present Value Annual annuity Lump-sum payment Total present value 1b If you can invest money at a 11% return, which option would you prefer? O First option O Second option