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 $139,000 immediately as her full retirement benefit. Under the second option, she would receive $26,000 each year for seven years plus a lump-sum payment of $58,000 at the end of the seven-year period. Click here to view Exhibit 11B-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 14%. (Use the appropriate table to determine the discount factor(s).) Present Value of First Option Discount Factor Cash Flowx Present Value Lump-sum payment Present Value of Second Option Discount Factor Cash Flow x Present Value Annual annuity Lump-sum payment Total present value 0 lb. if you can invest money at a 14% return, which option would you prefer? O First option Second option