Fill in the blanks After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscriptioncompany. It has arrived with the good news that you are the big winner, having won $36 million. You have three options.(a) Receive $1.8 million per year for the next 20 years.(b) Have $12 million today.(c) Have $2 million today and receive $1,500,000 for each of the next 20 years.Your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.Required:1. Calculate the present value of each option. (Future Value of $1. Present Value of $1, Future Value Annuity of $1. Present ValueAnnuity of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to the nearest whole dollar. Enter youranswers in dollars, not in millions.)Present ValueOption AOption BOption C2. Determine which option you prefer.O Option BO Option CO Option A< Prev5 of 9Next >e to search%233.2.

Name: Fill in the blanks After hearing a knock at your front door, you are s
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Fill in the blanks After hearing a knock at your front door, you are surprised to see the Prize Patrol from a large, well-known magazine subscriptioncompany. It has arrived with the good news that you are the big winner, having won $36 million. You h