Your grandfather has offered you a choice of one of the three following alternatives: $11,000 now; $4,500 a year for ten years; or $66,000 at the end of ten years. Use Appendix B and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. Assuming you could earn 8 percent annually, compute the present value of each alternative: (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Present Value $ $ 11,000 4,500 $ $ 11,000.00 30,195.37 30,570.77 $ 66,000 $ a-2. Which alternative should you choose? o $66,000 received at end of ten years $4,500 received each year for ten years $11,000 received now b-1. If you could earn 9 percent annually, compute the present value of each alternative: (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Present Value $ 11,000 $ 11,000 1,900.85 $ $ 4,500 66,000 $ $ 423,565.41 b-2. Which alternative should you choose? $4,500 received each year for ten years $66,000 received at end of ten years $11,000 received now