Ted recently was offered a position with a major accounting firm. The firm offered Ted either a signing bonus of $25,000 payable on the first day of work or a signing bonus of $28,000 payable after one year of employment. Assuming that the relevant interest rate is 12%, which option should Ted choose?

		The signing bonus of $25,000 payable on the first day of work.
		The signing bonus of $28,000 payable after one year of employment.
		The options are equivalent.
		Insufficient information to determine.