please answer a) option 1 and option 2

and b present value option 1 and option 2

Question 3 of 12 -/4 E View Policies Current Attempt in Progress Gary has just won the Flyball Lottery. He has two options for receiving his prize. The first option is to accept a $134,000 cash payment today. The second option is to receive $21,000 at the end of each of the next 19 years and a $39,100 lump sum payment in the 20th year. Gary can invest money at a 7% rate. Click here to view the factor table (a) Calculate the present value of the two options. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to O decimal place, e.g. 58,971.) Option 1 Option 2 Present value $ $ Which option should Gary choose to receive his winnings? (b) If Gary could invest money at 10%, calculate the present value of the two options. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, eg. 58,971) Option 1 Option 2 Present value $ Which option should he choose? eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later