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): 1. $8,000 per year at the end of each of the next five years 2. $50,250 (lump sum) now 3. $100,250 (lump sum) five years from now (Click the icon to view the Present Value of $1 table.) Click the icon to view the Present Value of Annuity of $1 table.) (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of Annuity of $1 table.) Requirements 1. Calculate the present value of each scenario using an 8% discount rate. Which scenario yields the highest present value? 2. Would your preference change if you used a 12% discount rate? Requirement 1. Calculate the present value of each scenario using an 8% discount rate. Which scenario yields the highest present value? Begin by calculating the present value of each scenario using an 8% discount rate. (Round the amounts to the nearest dollar.) Present Value Scenario 1