Lottery. Your dreams of becoming rich have just come true. You have won the State of Tranquility's Lottery. The State offers you two payment plans for the $6,000,000 advertised jackpot. You can take annual payments of $240,000 at the end of the year for the next 25 years or $2,796,860 today. a. If your investment rate over the next 25 years is 9%, which payoff will you choose? b. If your investment rate over the next 25 years is 5%, which payoff will you choose? C. At what investment rate will the annuity stream of $240,000 be the same as the lump-sum payment of $2,796,860? Which payoff will you choose? (Select the best response.) O A. Choose the annual payments of $240,000 for the next 25 years because its present value is higher. OB. Choose the lump-sum payment of $2,796,860 today because its future value is lower, OC. Choose the annual payments of $240,000 for the next 25 years because its future value is lower. D. Choose the lump-sum payment of $2,796,860 today because its present value is higher.. b. If your investment rate over the next 25 years is 5%, what is the present value of the $240,000 annual payments today? (Round to the nearest dollar)