Marcus has won a $9 000 000 state lottery. He can take his prize as either 15 yearly payments of $600,000 or a lump sum of $5,135,000 . Which is the better option? Assume an interest rate of 8 %.

A.

The present value of the lottery winnings is _______

this is better than the lump sum of $5,135,000

B.The present value of the lottery winnings is ______

;this is worse than the lump sum of $5,135,000