Present Value Computation Kerry Bales won the state lottery and was given four choices for receiving her winnings. 1. Receive $250,000 right now. 2. Receive $270,000 in 1 year. 3. Receive $45,000 at the end of each year for eight years. 4. Receive $22,500 at the end of each year for 40 years. Assuming Kerry can earn interest of 8% compounded annually, (a) calculate each option and (b) determine which option Kerry should choose? Use Excel or a financial calculator for computation. Round your answer to nearest dollar. (a) 1. $ (a) 2. $ (a) 3. $ (a) 4. $ (b)