Present Value Computation Kerry Bales won the state lottery and was given four choices for receiving her winnings. 1. Receive $400,000 right now. 2. Receive $432,000 in 1 year. 3. Receive $75,000 at the end of each year for eight years. 4. Receive $38,000 at the end of each year for 30 years. Assuming Kerry can earn interest of 8% compounded annually. (a) calculate each option and (b) determine which option Kerry should choose? Use Excel or a financial calculator for computation. Round your answer to nearest dollar. (a) 1. 5 (aj 25 Please answer all parts of the question T O ULO00 TL lycol. 3. Receive $75,000 at the end of each year for eight 4. Receive $38,000 at the end of each year for 30 yed Assuming Kerry can earn interest of 8% compounded a Use Excel or a financial calculator for computation. (a) 1. $ (a) 2. $ (a) 3. $ (a) 4. $ (b) Option 1 Pleas Option 2 Option 3 Option 4 Oo oo e question