A natural gas well is projected to produce \(\$ 200,000\) in profit during its first year of operation, \(\$ 190,000\) the second year, \(\$ 180,000\) the third year, and so on, continuing this pattern. If the well is expected to produce for a total of 10 years, and the effective annual interest rate is 8 percent, which of the following most closely represents the present worth of the well?

a. \(\$ 1,770,000\)

b. \(\$ 1,508,000\)

c. \(\$ 1,253,000\)

d. \(\$ 1,082,000\)