Question: Question content area top Part 1 (Present-value comparison) You are offered $1,000 today, $8,000 in 14 years, or $28,000 in 26 years. Assuming that you

Question content area top Part 1 (Present-value comparison) You are offered $1,000 today, $8,000 in 14 years, or $28,000 in 26 years. Assuming that you can earn 16 percent on your money, which offer should you choose? Question content area bottom Part 1 a. What is the present value of $28,000 in 26 years discounted at 16 percent interest rate? (Round to the nearest cent.) Part 2 b. What is the present value of $8,000 in 14 years discounted at 16 percent interest rate?(Round to the nearest cent.) Part 3 c. Which offer should you choose? (Select the best choice below.) A. Choose $8,000 in 14 years because its present value is the highest. B. Choose $1,000 today because its present value is the highest. C. Choose $28,000 in 26 years because its present value is the highest.

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