Sam Smith died, leaving a will that provided that $$1,500,000$ be transferred to a private not$-$for$-$profit college. The college is to invest the funds for $10$ years and give $$50,000$ each year to the granddaughter. At the end of the $10$ years, the remaining money can be used for any purpose desired by the college. Which of the following is true?

Group of answer choices

The college would not record revenue for $10$ years; then a revenue would be recorded, increasing net assets without donor restrictions.

The college would record revenue in the amount of $$1,500,000,$ increasing net assets with donor restrictions.

The college would record revenue in an amount equal to the present value of the $10$ payments to the granddaughter.

The college would record revenue in an amount equal to the $$1,500,000$ less the present value of the $10$ payments to the granddaughter.