Your best friend just won the state lottery. He has the option of taking a lump sum payment of

$$890,000$ now or receiving annual payments of $$73,000$ each year for the next $20$ years with the

first payment being one year from now. If he took the lump sum, he could deposit it into an

account earning $5\%.$ What option should he select? Show all your work. $($Do not assume an

interest rate for the annual payments to resolve these to an equivalent period in time.

Use annuity as your common reference.$)$