pls explain answer

You have recently won the super jackpot in the Set for Life Lottery. On reading the fine print, you discover that you have the following two options: a) You will receive 31 annual payments of $250,000, with the first payment being delivered today. The income will be taxed at a rate of 28 percent. Taxes will be withheld when the checks are issued. b) You will receive $530,000 now, and you do not have to pay taxes on this amount. In addition, beginning one year from today, you will receive $200,000 each year for 30 years. The cash flows from this annuity will be taxed at 28 percent. Using a discount rate of 7 percent, which option should you select