Under the terms of his salary agreement, president Newman Walters has an option of receiving either an immediate bonus of $55,000, or a deferred bonus of $70,000payable in10years. Click here to view factor tables Ignoring tax considerations and assuming a relevant interest rate of4%, which form of settlement should Walters accept?

Present value of deferred bonus	$
Accept Bonus NowAccept Deffered Bonus in 10 years