In a State-Run Lottery, Where Winners Are Paid in Annual

In a state-run lottery, where winners are paid in annual installments

A) the present value of the payments is less than the number of dollars won
B) the future value of the winnings is less than the number of dollars won
C) the present value of the payments is greater than the number of dollars won
D) the winner would prefer the annual installments to a lump sum payment made immediately
E) none of the above is correct