Option #1:	$15,000,00 five years from now
Option #2:	$2,200,000 at the end of each year for the next five years
Option #3:	$11,500,000 3 years from now

Congratulations! You've won a state lotto! The state lottery offers you the following (after-tax) payout options:

Requirement

Assuming that you can earn

8% on your funds, which option would you prefer? (Round your answers to the nearest whole dollar.) Calculate the present value for each payout.