Seanny S reports outstanding debt on his balance sheet of $387,929. He has two options to settle the debt: He can either pay $850,000 at maturity in 20 years or he can make annual payments of $27,500 for 20 years. Payments are due at the beginning of each year. Interest is compounded annually. (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) Requirement If Seanny S is given an interest rate of 4%, which option should he select? (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.) (Click the icon to view the Present Value of an ordinary Annuity table.) (Click the icon to view the Present Value of an Annuity table.) The future value (FV) of the annual payment option amounts to $ , which is the FV of the single-sum payout at the end of the 20-year period. Therefore, Seanny S should select the option to