You just won the $1,000,000 lottery. You can take a cash payout now of $500,000 or receive a 20 year annuity of $50,000 per year at the end of each year. If you have a required return of 7%, which is the better option? (Hint: You need to compare these two options at the same point in time, either in today's dollars or in future dollars 20 years from now.) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)