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): $7, 550 a year at the end of each of the next seven years $50, 050 (lump sum) now $99, 850 (lump sum) seven years from now Calculate the present value of each scenario using an 8% interest rate. Which scenario yields the highest present value? Would your preference change if you used a 12% interest rate? Using an 8% interest rate, calculate the present values for each scenario