Edward Hughes has just won the state lottery and has the following three payout options for after-tax prize money 1. $156,000 per year at the end of each of the next six years 2. $310,000 (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% 0.926 0.857 10% 0.909 0.826 WN 9% 0.917 0.842 0.772 0.708 6 0.794 0.751 0.735 n 61 0.683 1521 O A. $103,600 OB. $674,000 O C. $414,400 OD. $310,000