James Has Just Won the Lottery After Purchasing One $10

James has just won the lottery after purchasing one $10 lottery ticket. The state offers him 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. $400,000 (lump sum) six years from now
Calculate the present value of each scenario using an 8% discount rate. Round to nearest whole dollar.
Present value of annuity of $1:
$$\begin{array} { | r | r | r | r | } \hline & { 7 \% } & 8 \% & 9 \% \\\hline 1 & 0.935 & 0.926 & 0.917 \\\hline 2 & 1.808 & 1.783 & 1.759 \\\hline 3 & 2.624 & 2.577 & 2.531 \\\hline 4 & 3.387 & 3.312 & 3.24 \\\hline 5 & 4.1 & 3.993 & 3.89 \\\hline 6 & 4.767 & 4.623 & 4.486 \\\hline\end{array}$$ Present value of $1:
$$\begin{array} { | r | r | r | r | } \hline & { 7 \% } & 8 \% & 9 \% \\\hline 1 & 0.935 & 0.926 & 0.917 \\\hline 2 & 0.873 & 0.857 & 0.842 \\\hline 3 & 0.816 & 0.794 & 0.772 \\\hline 4 & 0.763 & 0.735 & 0.708 \\\hline 5 & 0.713 & 0.681 & 0.65 \\\hline 6 & 0.666 & 0.63 & 0.596 \\\hline\end{array}$$