You won the lottery and have a number of choices as to how to take the money. Which one of the following choices yields the greatest present value?

A.

$12,000 a year at the end of each of the next 6 years using a 6% discount rate

B.

$53,500 (lump sum) now using a 6% discount rate

C.

$84,000 (lump sum) 7 years from now using a 6% discount rate

D.

$92,000 (lump sum) 7 years from now using an 8% discount rate