Sally Hamilton has performed well as the chief financial office of the Maxtech Computer Company and has earned a bonus. She has a choice among the following three bonus plans:

1. A $50,000 cash bonus paid now.

2. A $10,000 annual cash bonus to be paid each year over the next six years, with the first $10,000 paid now.

3. A three-year $22,000 annual cash bonus with the first payment due three years from now.

Required: Evaluate the three alternative bonus plans. Sally can earn a 6% annual return on her investments.