Your grandfather has offered you a choice of one of the three following alternatives: $10,500 now; $5,000 a year for nine years; or for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. Assuming you could earn 7 percent annually, compute the present value of each alternative: Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. a-2. Which alternative should you choose? $61,000 received at end of nine years $5,000 received each year for nine years $10,500 received now b-1. If you could earn 8 percent annually, compute the present value of each alternative: Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. b-2. Which alternative should you choose? $5,000 received each year for nine years $61,000 received at end of nine years $10,500 received now