You believe you have discovered a new medical device. You anticipate it will take additional time to get the device fully operational, run clinical trials, obtain FDA approval, and sell to a buyer for $250,000. Assume a discount rate of 7% compounded annually. What is the value today of discovering the medical advice, assuming you sell it for $250,000 in 

(a) Two years, 

(b) Three years, or 

(c) Four years?