Present and future value tables of $1 at 3% are presented below. N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 PVAD $1 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0909 2.82861 4 1.12551 0.88849 4.1836 3.71710 5 1.15927 0.86261 5.3091 4.57971 6 1.19405 0.83748 6.4684 5.41719 3.1836 2.91347 4.3091 3.82861 5.4684 4.71710 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719 00 8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 9 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10 1.34392 0.74409 11 1.38423 0.72242 11.4639 8.53020 12.8078 9.25262 12 14.1920 14 345 1.42576 0.70138 13 1.46853 0.68095 15.6178 1.51259 0.66112 17.0863 15 1.55797. 0.64186 18.5989 19.1569 12.29607 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 9.95400 11.8078 8.78611 13.1920 9.53020 14.6178 10.25262 10.63496 16.0863 10.95400 11.29607 11.93794 17.5989 11.63496 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 Jose wants to cash in his winning lottery ticket. He can either receive fourteen, $4,000 annual payments starting today, or he can receive one lump-sum payment today based on a 3% annual interest rate. What would be the lump-sum payment? Multiple Choice $44,819) $46,540 $45,184 Multiple Choice $44,819. $46,540. $45,184. $43,463