Rachelle Lewis has just won the state lottery. The state offers the following three payout options for after-tax prize money: 1. $80,000 per year at the end of each of the next three years 2. $275,000 (lump sum) now 3. $475,000 (lump sum) five years from now Present value of an ordinary annuity $1: 7% 8% 9% 123456 0.935 0.926 0.917 1.808 1.783 1.759 2.624 2.577 2.531 3.387 3.312 3.240 4.100 3.993 3.890 4.767 4.623 4.486 Present value of $1: 7% 8% 9% 123456 0.935 0.926 0.917 0.873 0.857 0.842 0.816 0.794 0.772 0.763 0.735 0.708 0.713 0.681 0.650 0.666 0.630 0.596 Calculate the present value of each scenario using an 8% annual discount rate. Round to nearest whole dollar. Present value of the payout, Option #1: Present value of the payout, Option #2: Present value of the payout, Option #3: