Your grandfather would like to share some of his fortune with you. He offers to give you money under one of the following scenarios $($you get to choose$)$:

View the scenarios.

Read the requirements.

View the Present Value of $$1$ table.

View the Present Value of Ordinary Annuity of $$1$ table.

View the Future Value of $$1$ table.

View the Future Value of Ordinary Annuity of $$1$ table.

Requirement $1.$ Calculate the present value of each scenario using an $8\%$ discount rate. Which scenario yields the highest present value? Round to the nearest dollar.

Begin by calculating the present value of each scenario using an $8\%$ discount rate. $($Round the amounts to the nearest dollar.$)$

Present value of Scenario $1=$

Scenarios

$$8,250$ per year at the end of each of the next six years

$$48,750($lump sum$)$ now

$$98,650($lump sum$)$ six years from now