You won the lottery and have a number of choices as to how to take the money. Which choice yields a greater present value? $92,000 (lump sum) 7 years from now using an 8% discount rate $12,000 a year at the end of each of the next 6 years using a 6% discount rate $53,500 (lump sum) now using a 6% discount rate $90,000 (lump sum) 7 years from now using a 6% discount rate