Shuai is $43$ years old and has been asked to accept early retirement from his company. The company offered

Shuai three alternative compensation packages to induce Shuai to retire:

$$231,000$ cash payment to be paid immediately.

A $20-$year annuity of $$22,000$ beginning immediately.

A $10-$year annuity of $$75,000$ beginning on July $1$ of the year Shuai reaches age $53($after $10$ years$).$

Required:

Determine the present value of each alternative, assuming that Shuai is able to invest funds at a $8\%$ rate. Which

alternative should he choose?

Note: Round your final answers to nearest whole dollar amount. Use tables, Excel, or a financial calculator.

$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$