(Related to Checkpoint 5.4) (Present-value comparison) You are offered $100,000 today or $340,000 in 12 years. Assuming that you can earn 11 percent on your money, which should you choose? If you are offered $340,000 in 12 years and you can earn 11 percent on your money, what is the present value of $340,000 ? $ (Round to the nearest cent.)