Affluent Russians can now shop at Versace, Burberry, Bulgari, and other exclusive brands

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

1. $166,000 per year at the end of each of the next six years 2. $306,000 (lump sum) now 3. $518,000 (lump sum) six years from now The annual discount rate is 9%. Compute the present value of the second 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) $684,000 B) $103,600 C) $414,400 D) $306,000

The worldwide popularity of McDonald's suggests that there is a global consumer culture that unites people around the world by their common devotion to brands

Indicate whether the statement is true or false