On Joe Martin's graduation from college, Joe's uncle promised him a gift of $11,700 in cash or $770 every quarter for the next 5 yea 5 after graduation Assume money could be invested at 8% compounded quarterly. (Use Table 13.2.) a. Calculate the present value of options. (Do not round intermediate calculations. Round your answers to the nearest cent.) Present value Option 1 Option 2 b. Which offer is better for Joe? Option 2 Option 1