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1. A construction crane collapsed while working on a new building for Metro City. A pedestrian was killed. The husband of the victim is suing Metro City and the construction company. The city attorney, in consultation the city's liability insurer and the construction company, has offered three out-of-court settlements to the husband of the victim. Here are the settlement options: Option #1: A payment of $300,000 today and $600,000 five years from today. Option #2: Four annual payments of $220,000 with the first payment one year from today. Option #3: Five payments of $200,000, with the payments one year, three years, five years, seven years, and nine years from today. Assuming a 5% discount rate, which settlement option is best from the perspective of Metro City? Justify your answer with the appropriate calculations. (5.5 points)