You have won the lottery. You have a choice of two tax-free cash prizes: the first is a lump sum of $500,000, to be given to you today. The second prize choice is monthly cash payments of $4000, to be deposited to your bank account on the last day of each month, for 15 years. Which option has the highest present value? Briefly show your inputs (use Excel) or include a screen shot of your Excel, and state which option you would choose and why. The interest rate (discount rate) is 3%.