You decide to deposit a single sum in the bank that will provide 6 equal annual year-end payments of $50,000 to a retired employee (payments starting December 31 of this year). Assuming a 2% annual interest rate, what single sum must be deposited in the bank on January 1 of this year to achieve the desired annual year-end payments? (Time Value of Money Tables: Pl_of S1: PVA of $1) $44,398 $56,308 $280,072 $315,406 $300.000