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 one year. 3. Receive $40,000 at the end of each year for 20 years. 4. Receive $36,000 at the end of each year for 30 years. Assuming Kerry can earn interest of 8% compounded annually, which option should Kerry choose? Use Excel or a financial calculator for computation. Round answers to the nearest dollar. (a) 1. $ (a) 2. $ (a) 3. $ (a) 4. $ Check