Today is January 1^st and you have been declared as the winner of the Missouri Lottery for $1 million. You are offered two choices for payout:

CHOICE A: You can take the $1 million as fixed payments of $100,000 at the end of every year for the next 10 years

CHOICE B: You can take the $1 million as a one-time lump sum payment of $500,000 today

Suppose the interest rate is 15.10%. In this case:

Group of answer choices

Choice A is substantially better than Choice B

Choice B is substantially better than Choice A

Both choices are essentially the same