Jared Electronics Company Wins the State Award and Has the Following

Jared Electronics Company wins the state award and has the following three payout options for after-tax prize money: 1.$50,000 per year at the end of each of the next six years
2.$300,000 (lump sum) now
3.$500,000 (lump sum) six years from now
The required rate of return is 9%.What is the present value if the third option is chosen? (Round to nearest whole dollar.)
Present value of $1:

A) $250,000
B) $230,000
C) $238,400
D) $298,000