1. You won a raffle while you were down the shore with friends. For your prize, you can choose among the following three alternatives. If you believe that an7.5% return is the appropriate discount rate to use, what is the present value of each alternative? Which should you prefer? a) $20,000 six years from today b) $12,000 today c) $5,000 today plus four annual payments of $2,000, the first of which would occur one year from today Pur