Ruth Nail recieves two offers for her seaside home. The first offer is for $1 million today. The second offer?

is for an owner financed sale with a payment as follows:End of the year 0(today) payment $200,000 (2) 200,000 (3)200,000 (4)200,000 (5)300,00. Assuming no differential tax treatment between the two options and that Ruth earns a return of 8 percent on her investments which offer should she take?