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Score : 0 /19 WINNING THE LOTTERY! Toni won the Washington State Lottery. She was given three options for receiving her winnings. Toni uses a discount rate of 10% in making her decision. PV at 10% Show cash flow each year, even if it's 0. 0 4 Cash flows Option 1 Receiving $1.1 million at the end of five years. Check PV at 10% 0 Cash flows Option 2 Receiving $200,000 per year for 5 years. Check PV at 10% 0 2 3 Cash flows Option 3 Receiving $1 million at the end of 3 years. Check PRESENT VALUE OF $1.00 PRESENT VALUE OF A SERIES OF $1.00 CASH FLOWS 6% 8% 9% 10% 11% 12% 15% Per. 4% 8% 9% 10% 11% 12% 15% Question: Which option should Toni choose to maximize Per. 4% 6% 0.9434 0.9259 0.9174 0.9091 0.9009 0.8929 .8696 her present value? 0.9615 0.9434 0.9259 0.9174 0.9091 0.9009 0.8929 .8696 0.9615 1.6257 0.89 0.8573 0.8417 0.8264 0.8116 0.7972 0.7561 1.8861 1.8334 1.7833 1.7591 1.7355 1.7125 1.6901 Answer: 3. Receiving $1 million at the end of 3 years. 0.9246 2.4869 2.4437 2.4018 2.2832 W N 0.889 0.8396 0.7938 0.7722 0.7513 0.7312 0.7118 0.6575 2.7751 2.673 2.5771 2.5313 U AWN 3.4651 3.3121 3.2397 3.1699 3.1024 3.0373 2.855 0.8548 0.7921 0.735 0.7084 0.683 0.6587 0.6355 0.5718 3.6299 3.7908 3.6959 3.6048 3.3522 0.8219 0.7473 0.6806 0.6499 0.6209 0.5935 0.5674 0.4972 4.4518 4.2124 3.9927 3.8897