Edward Hughes has just won the state lottery and has the following three payout options for after-tax prize money: 1. $162,000 per year at the end of each of the next six years 2. $318,000 (lump sum) now 3. $514,000 (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: 1 234 8% 9% 10% 0.926 0.917 0.909 0.857 0.842 0.826 0.794 0.772 0.751 0.735 0.708 0.683 A. $676,000 B. $102,800 C. $411,200 OD. $318,000