ou have just won the lottery and you can choose between the following payout options. The annual interest rate (EAR) is 10%.

a) $100,000 right now and $60,000 every two years starting 3 years from now and ending 17 years from now (i.e., payments are at t = 0, t = 3, t = 5, ... , t = 15, t = 17).

b) $60,000 a year for 25 years with the first payment one year from today (i.e., payments ar e at t = 1, 2, 3 ... 24, 25).

c) 25 annual payments of $45,000 and a 26th payment of $299,000. The first payment is made right now, and the $299,000 payment is made one year after the last $45,000 payment. How much more is the best option worth today relative to the worst option?