QUESTION 8 2 points Save Answer You win the lottery and must decide how to take the payout. Use a 10% discount rate. What is the present value of $14,000 a year received at the end of each of the next five years? Present Value of $1 Periods 5 6 7 8 9 10 4% 0.822 0.790 0.760 0.731 0.703 0.676 Present Value of Annuity of $1 4% 4.452 5.242 6.002 6.733 7.435 8.111 Periods 5 6 7 8 9 10 $108,108 $8694 $70,000 $53,074 6% 0.747 0.705 0.665 0.627 0.592 0.558 6% 4.212 4.917 5.582 6.210 6.802 7.360 8% 0.681 0.630 0.583 0.540 0.500 0.463 8% 3.993 4.623 5.206 5.747 6.247 6.710 10% 0.621 0.564 0.513 0.467 0.424 0.386 10% 3.791 4.355 4.868 5.335 5.759 6.145 12% 0.567 0.507 0.452 0.404 0.361 0.322 12% 3.605 4.111 4.564 4.968 5.328 5.650