Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options:

Question:

Congratulations! You have won a state lottery. The state lottery offers you the following (after-tax) payout options:
Option #1: ..... $12,000,000 after five years
Option #2: ..... $2,150,000 per year for five years
Option #3: ..... $10,000,000 after three years
Assuming you can earn 6% on your funds, which option would you prefer?