Your grandfather has offered you a cho ce of one of the three following alternatives $14,000 now $7,250 a year for ten years; or 596,000 at the end of ten years. Use Appendix Band Appendix D for an approxlmate answer, but calculate your final answer using the formula and financial calculator methacs. 8-1. Assuming you could eam 6 percent annually, compite the present value of each a ternative: (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Present Value s 14,000 7,250 93,000 8-2. Which altemative should you choose? 596 000 received alt fich you 57250 CUV each year for ten years $14,000 received now b-1. If you could earn 7 percent annually, compute the present value of each alternative: (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Present Value 14.000 7.2501 93,000 3 b-2. Which alternative should you choose? $7,250 received each year for ten years $96,000 received at end of ten years $14,000 received now