John wins the lottery and has the following three payout options for after-tax prize money: $150,000 per year at the end of each of the next six years $300,000 (lump sum) now $500,000 (lump sum) six years from now The required rate of return is 9%. What is the present value if he selects the first option? Round to nearest whole dollar. Present value of annuity of $1: Present value of $1: $750,000 $672, 900 $672, 900 $450,000 $450, 050