In the year 1915, Coca Cola patented the shape of Coca Cola bottles. This is an example of a(n) ________

____ set broad guidelines delineating how employees should proceed.

Fill in the blank(s) with the appropriate word(s).

Peter Smith has just won the state lottery and has the following three payout options for after-tax prize money

1. $64,000 per year at the end of each of the next six years 2. $304,000 (lump sum) now 3. $502,000 (lump sum) six years from now The annual discount rate is 9%. Compute the present value of the third option. (Round to nearest whole dollar.) Present value of $1: 8% 9% 10% 1 0.926 0.917 0.909 2 0.857 0.842 0.826 3 0.794 0.772 0.751 4 0.735 0.708 0.683 5 0.681 0.650 0.621 6 0.630 0.596 0.564 7 0.583 0.547 0.513 A) $240,000 B) $98,133 C) $101,717 D) $299,192