me Value of Money Calculations A. Mike won the lottery and has the following options for his winnings: 1. $100,000 at the beginning of the year (today) 2. A lump sum payment of $160,000 at the end of the ninth year 3. S13,000 at the end of each year for 8 years He can invest his winnings at an annual rate of return of 4%. Which option is best? Show your calculations for each option. Hint-use present value techniques where applicable make the options comparable. Show your work and answers below