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 second option? Round to nearest whole dollar. Present value of $1: $650,00 $100,000 $400,000 $300,000 John wins tire lottery and has the following three payout options for after-tax prize money: $50,000 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 third option? Round to nearest whole dollar. Present value of $1: $250,000 $230,000 $238, 400 $298,000