Sam was injured in an accident, and the insurance company has offered him the choice of $24,000 per year for 15 years, with the first payment being made today, or a lump sum. If a fair return is 7.5%, how large must the lump sum be to leave him as well off financially as with the annuity?

a. $234,571.88 b. $202,688.32 c. $189,023.94 d. $248,236.26 e. $227,739.69