Exercise 16-3 Determining the present value of a lump-sum future cash receipt LO 16-1 Brooks Long expects to receive a $610,000 cash benefit when she retires four years from today. Ms. Long's employer has offered an early retirement incentive by agreeing to pay her $353,000 today if she agrees to retire immediately. Ms. Long desires to earn a rate of return of 8 percent. (PV of $1 and PVA of $1)(Use appropriate factor(s) from the tables provided.) Required a-1. Calculate the present value (Round your final answer to the nearest dollar amount.) resent Value a 2. Assuming that the retirement benefit is the only consideration in making the retirement decision should Ms. Long accept her employer's offer? O No Yes