Amanda Is Ready to Retire and as a Retirement Benefit

Amanda is ready to retire and as a retirement benefit, she can choose to take $380,000 now or $50,000 at the end of each year for a period of 10 years. To compare the two options, she must calculate the present value of both alternatives. She believes a discount rate of 5% would be the most appropriate rate to apply. How much is the present value if she takes the cash as a lump sum right now? Please refer to the following data, if needed:

A) $380,000
B) $386,100
C) $321,000
D) $399,000