Julie has just retired. her company’s retirement program has two options as to how retirement benefits can be received. under the first option, julie would receive a lump sum of $157,000 immediately as her full retirement benefit. under the second option, she would receive $20,000 each year for 6 years plus a lump-sum payment of $65,000 at the end of the 6-year period. click here to view exhibit 12b-1 and exhibit 12b-2, to determine the appropriate discount factor(s) using tables.

required:
1-a. calculate the present value for the following assuming that the money can be invested at 12%.
1-b. if she can invest money at 12%, which option would you recommend that she accept