You have just learned that you are a beneficiary in the will of your late Aunt Susan. The executrix of her estate has given you three options as to how you may receive your inheritance.

Required:
1-a.	Calculate the present value for the following assuming that the money can be invested at 12% percent. (Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount.)

		Present Value
a.	You may receive $68,000 immediately.	$
b.	You may receive $91,000 at the end of seven years.	$
c.	You may receive $25,000 at the end of each year for seven years (a total of $175,000).	$

1-b.	If you can invest money at a 12% return, which option would you prefer?