Question 11 [6 points] A winning lottery ticket offers the following two options: a. A single payment of $1,600,000 today or b. $310,000 today followed by annual payments of $500,000 for the next three years. For full marks your answer(s) should be rounded to the nearest cent. a) If money can eam 8% compounded annually, calculate the value of option B in current dollars. Value = $ 0.00 b) Which option should the winner select? (Select one) c) How much better is that option in current dollars? Amount better = $ 0.00 Official Time: 23:19:58 SUBMIT AND MARK SAVE AND CLOSE