Your grandmother has told you she can either give you $4,000 now or $5,400 when you graduate from college in three years. Your savings account earns 8% interest, compounded annually. Which option would be worth more to you now, and how much more? Refer the Table 2. (Round your PV factor to 4 decimal places and final answer to 2 decimal places.)

a. The $4,000 now is worth $300.00 more than the $5,400 in the future.

b. The $4,000 now is worth $286.52 more than the $5,400 in the future.

c. The $5,400 in the future is worth $286.52 more than the $4,000 now.

d. The $5,400 in the future is worth $300.00 more than the $4,000 now.