On Joe Martin's graduation from college, Joe's uncle promised him a gift of

$$10,900$ in cash or $$690$ every quarter for the next $4$ years after graduation.

Assume money could be invested at $8\%$ compounded quarterly.

a$.$ Calculate the present value of options. $($Round your answers to the

nearest cent.$)$

b$.$ Which offer is better for Joe?

Option $1$

Option $2$