Edward Hughes has just won the state lottery and has the following three payout options for after-tax prize money: 1. $170,000 per year at the end of each of the next six years 2. $300,000 (lump sum) now 3. $512,000 (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% 1 0.926 2 0.857 3 0.794 4 0.735 9% 0.917 0.842 0.772 0.708 10% 0.909 0.826 0.751 0.683 A. $409,600 B. $300,000 C. $682,000 D. $102,400