You are given an option of three lottery prizes: 1. $25613.65 now with $70311.51 in 5 years, 2. A payment each year of $26342.92 beginning in 1 year and ending after 4 payments, 3.6 payments half a year apart, each of $19684.27 with the first payment now. The current rate of interest is 5.85% compounded semi-annually. What is the value of the first option in today's dollars? Answer: You are aiven an option of three letter prizes