(Present-value comparison) Much to your surprise, you were selected to appear on the TV show "The Price is Right." As a result of your prowess in identifying how many rolls of toilet paper a typical American family keeps on hand, you win the opportunity to choose one of the following: $1,600 today, $8,000 in 12 years, or $29,000 in 30 years. Assuming that you can earn 16 percent on your money, which should you choose