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Your grandfather would like to share some of his fortune with you. He offors to give you monoy under one of the following scenarios (you get to choose): 1. $8,000 a year ot the ond of each of the next seven years 2. 548,750 (iump sum) now 3. $98,150 flump sum) seven yoars from now Calculato the present value of each scenario using an 8% interest rate. Which scenario yields the highest prosent value? Would your proference change if you used a 12% interest rate? (Clck the ioon to view the present value annuily factor table.) (Cick the icon to view the present value factor table.) (Cick the icon to viow the future value annuify factor table.) (Click the icon to view the future value factor table.) Using an B\% interest rate, calculate the presont values for each scenario. (Round the amounts to the nearest dollar.) Present value of Scenario 1 cuture Value of Annuity of $1 Future Value of $1 Present Value of Annuity of $1 Present Value of $1