Sara is going to receive an award of $$20,000$ six years from now. Megan is going to receive an award of $$20,000$ nine years from now. Which one of the following statements is correct if both individuals apply a discount rate of $7$ percent?

Group of answer choices

The present values of Caroline's and Jiexin's awards are equal.

In today's dollars, Caroline's award is worth more than Jiexin's.

Jiexin's award is worth more today than Caroline's award.

Twenty years from now, the value of Caroline's award will equal the value of Jiexin's award.

In future dollars, Jiexin's award is worth more than Caroline's award.