Present Value Computation Kerry Bales won the state lottery and was given four choices for receiving her winnings. 1. Receive $400,000 right now. 2. Receive $432.000 in one year. 3. Receive $40,000 at the end of each year for 20 years 4. Receive $36,000 at the end of each year for 30 years Assuming Kerry can earn interest of 8% compounded annually, which option should Kerry choose? Use Excel or a financial calculator for computation. Round answers to the nearest dollar. (a) 2. (a) 3. (a) 4. Option 1 Option 2 Option 3 Option 4