You won the lottery and have a number of choices as to how to take the money. Which choice yields a greater present value? Present Value of $1 Periods 5% 6% 8% 0.792 4 0.823 0.735 0.784 0.747 0.681 0.630 6. 0.746 0.705 0.711 0.665 0.583 0.677 8. 0.627 0.540 0.500 0.645 0.592 Present Value of Annuity of $1 Periods 5% 6% 8% 4 3.546 3.465 3.312 4.329 4.212 3.993 6. 5.076 4.917 4.623 5.582 5.786 5.206 6.463 5.747 6.210 6.802 7.108 6.247 $53,500 (lump sum) now using a 6% discount rate $12,000 a year at the end of each of the next 6 years using a 6% discount rate $92,000 (lump sum) 7 years from now using an 8% discount rate $90,000 (lump sum) 7 years from now using a 6% discount rate