You have won the state lottery. There are two ways in which you can receive your prize. You can either have $1 million in cash now or you can have $1.2 million paid out as follows: $300,000 now, $300,000 in one year's time, $300,000 in 2 years time and $300,000 in three years time. You expect the interest rate to rise from 15% to 18% and then to 20% for years 1,2 and 3. How would you prefer to receive your prize? Show work and explain.