Rank the four options in order of preference for Jason ranging from the worst to the best option, assuming a discount rate of 5.5 percent. You are required to use the relevant formulas and all workings must be typed in your report; the use of Excel is not allowed. Quote your answer in 2 decimal points. (45 marks)

Payment Option 1: RM1,000,000 immediate payment RM1,000,000 at the end of year 1 RM2,000,000 at the end of year 2 RM3,000,000 at the end of year 3 RM4,000,000 at the end of year 4 RM5,000,000 at the end of year 5 RM300,000 at the end of year 6 through year 20

Payment Option 2: RM1,000,000 immediate payment RM600,000 at the end of each year for the next five years RM900,000 a year at the end of years six through twenty A lump sum payment of RM3,000,000 at the end of year 20

Payment Option 3: RM500,000 immediate payment RM1,000,000 at the beginning of each year for the next twenty years

Payment Option 4: RM500,000 immediate payment RM1,000,000 a year for the next twenty years