E9-18 (Algo) Using Present Value Concepts for Decision Making LO 9-7 You have just won the state lottery and have two choices for collecting your winnings. You can collect $103,000 today or receive $20,400 at the end of each year for the next seven years. A financial analyst has told you that you can earn 9% on your investments Required: 1. Calculate the present value of both the options (EV of 51. PV of $1. EVA of 51, and EVA (5) (Use the appropriate factor(s) from the tables provided. Round your answers to nearest whole dollar.) Present Value Option 11 Option 2 102,672 20,400 2. Which alternative should you select? Option 1 Option 2