Your grandtather would the to share some of his fortune with you. He offers to give you money under one of the following scenarios (you get to choose): 1,57,250 per year at the end of each of the next eight years 2. $49,650 (fump sum) now 3. $98,650 (hump sum) eight years trom now (Clok the icon to view Present Vaue of 51 tabie) (Clck to icon to vew Present Value of Ordinary Amuly of $1 table.) Read the ceguirements. the present value is the nearest whole dolat.) Scenario 1; BN discount rate, Present value a Present Value of $1 Print Done Present Value of Ordinary Annuity of $1 Reference Requirements 1. Calculate the present value of each scenario using an 8% discount rate. Which scenario yields the highest present value? Round to the nearest whole dollar. 2. Would your preference change if you used a 10% discount rate