Felice Lucas has just won the state lottery and has the following three payout options for after--tax prize money:

1. $154,000 per year at the end of each of the next six years

2. $312,000 (lump sum) now

3. $500,000 (lump sum) six years from now

The annual discount rate is 9%. Compute the present value of the first option. (Round your answer to the nearest whole dollar.)

Present value of an ordinary annuity of $1:

	8%	9%	10%
1	0.926	0.917	0.909
2	1.783	1.759	1.736
3	2.577	2.531	2.487
4	3.312	3.240	3.170
5	3.993	3.890	3.791
6	4.623	4.486	4.355
7	5.206	5.033	4.868

Present value of $1:

	8%	9%	10%
1	0.926	0.917	0.909
2	0.857	0.842	0.826
3	0.794	0.772	0.751
4	0.735	0.708	0.683
5	0.681	0.650	0.621
6	0.630	0.596	0.564
7	0.583	0.547	0.513

Answer choices:

A. $690,844

B. $690,844

C. $450,050

D. $770,000