Please show all your work with both parts of the question. Thank you for your help.

A family friend is planning her retirement from work in the U.S. She is 62 years old right now (time 0 ) and has the choice of taking her Social Security (a public pension program) according to the following schedule (first payment noted in parentheses): I. Early retirement at age 62 (month 0) $1,200 per month for life II. Regular retirement at age 67 (month 60) $1,700 per month for life III. Delayed retirement at age 70 (month 96) $2,200 per month for life If her expected life expectancy is 94 years old (exactly), what are the present values of the choices? (Assume r=5% (annual))