Teresa just won the lottery and must choose between three award options: 1. A lump sum of $5,000,000 received today 2. 15 end-of-year payments of $625,000 3. 40 end-of-year payments of $450,000 For each option in the table, indicate which values to enter for each variable in your financial calculator. Option 1 Lump Sum Payment Option 2 15 Payments Option 3 40 Payments No. of Periods Annual payment Future Value Present Value FV= 0 FV = 0 $5,000,000 ? ? Assume the interest rate is 8.00%, entered as 8 on your financial calculator. and a Note: Take the absolute value of the present value when answering this question. Using the table you just filled out, along with a financial calculator, yields a present value for option 2 of approximately present value for option 3 of approximately (when the interest rate is 8.00%). Based on this, Teresa should choose option if she seeks to maximize present value. Now assume the interest rate is 9.00%, entered as 9 on your financial calculator. and Note: Take the absolute value of the present value when answering this question. Using the table you just filled out, along with your financial calculator, yields a present value for option 2 of approximately a present value for option 3 of approximately (when the interest rate is 9.00%). Based on this, Teresa should choose option if she seeks to maximize present value. Assume the interest rate is 10.00%, entered as 10 on your financial calculator. and Note: Take the absolute value of the present value when answering this question. Using the table you just filled out, along with your financial calculator, yields a present value for option 2 of approximately a present value for option 3 of approximately (when the interest rate is 10.00%). Based on this, Teresa should choose option if she seeks to maximize present value. As the interest rate increases, option 1 becomes attractive. Grade Step 2 TOTAL SCORE: 0/10 to complete this stop and unlock the next step)