Current Attempt in Progress Henry Long has just learned he I E has won a $5 1 100 prize in the lottery, The lottery has given him two options for receiving the payments. (1) If Hennyt y takes all the money today, the state and federal governments v ill deduct taxes at a rate of 46 6immediately. (2) Alternatively. the lottery offers | he payout of 20 equal payments of $37. 100 with the first payment occurring when Henry turns in he ticket. ill be taxed on each of these payments at = rate of 2 583 Click here to view factor tables. Compute the present value of the cash flows for lump sum payout. (Round angst 2 45 458 581.) Lump sum payout Assuming Henry can earn an 8% rate of return (compounded annually) a invested during this period. compute the present value of the cash flows for annuity payout. (Round factor valliis it = dean lol please. as. 1.25124 and final answer to O decimal places, es. 458.581) Present value of annuity payout Which pay-out option should he choose? e Textbook and Media