Shuai is 55 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: 1. $180,000 cash payment to be paid immediately. 2. 20-year annuity of $16,000 beginning immediately. 3. 10-year annuity of $50,000 beginning on July 1 of the year Shuai reaches age 65 (after 10 years). Required: Determine the present value of each alternative, assuming that Shuai is able to invest funds at a 7% 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) Alternative 1 PV $ 180,000 2 $ 184,729 3 Shuai should choose