PLEASE HELP ME UNDERSTAND THIS PROBLEM IN EXCEL WITH ALL THE EXCEL FORMULAS.

Julie has just retired. Her companys retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum of $159,000 immediately as her full retirement benefit. Under the second option, she would receive $22,000 each year for seven years plus a lump-sum payment of $67,000 at the end of the seven-year period.

Required:
1a.	Calculate the present value for the following assuming that the money can be invested at 11%. (Use Microsoft Excel to calculate present values. Do not round intermediate calculations.)

1b.	If you can invest money at a 11% return, which option would you prefer?
	First option Second option