Walter has just won the lottery! He has two options for his winning payout. The first option is to receive annuity payments of $250,000 each year for the next 10 years. The second option is to receive $2,000,000 immediately. Assuming an interest rate is 6%, which option should Walter choose and why? Receive $2,000,000 immediately because its present value is $605,000 more than receiving $250,000 for the next 10 years. Receive $250,000 for the next 10 years because its present value is $911,250 more than receiving $2,000,000 Immediately. Receive $250,000 for the next 10 years because it is $500,000 more over the life of the payout than the $2,000,000 received immediately. Receive $2,000,000 immediately because its present value is $160,000 more than receiving $250,000 for the next 10 years