please help!

After completing a long and successful careet as senior vice president for a large bonk; you are preparing for retirement. After visiting the human resqurces office, you found that you have several retirement options to choose from: a. An immediate cash payment of $1.12 milion. b. Payment of $56,000 per year for life. c. Payment of $46,000 per year for the first 3 years and then $66,000 per year for the remainder of your life (this option is intended to glve you some protection against inflation) You believe you can earn 7 percent on your investments, and your remaining life expectancy is 6 years. Required: 1. Calculate the present value of each option. (Future Value of \$1. Present Value of \$1, Future Value Annulty or \$1. Present Value Annuity of 51. 2. Determine which option you prefer. Complete this question by entering your answers in the tabs below. Calculate the present value of each option. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided, Do not round intermediate calculations. Enter your answers in whole dollars, not in milions. Round the final answer to nearest whole dollar. Determine which option you prefer