What is the value today of $3,600 received at the end of each year for eight years if the first payment is paid at the end of year 4 and the discount rate is 12 percent? a) $11,694.21b) $12,484.57c) $12,729.12d) $15,089.23e) $14,429.52

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.