A brilliant young scientist is killed in a plane crash. It is anticipated that he could have earned $240,000 a year for the next 50 years. The attorney for the plaintiffs estate argues that the lost income should be discounted back to the present at 4 percent. The lawyer for the defendants insurance company argues for a discount rate of 8 percent.

What is the difference between the present value of the settlement at 4 percent and 8 percent?

A. $2,515,721

B. $7,209,700

C. $2,219,760

D. $1,119,760