(Competency 4: Learning Objective 6) Bill Jones has just won the state lottery and has the following three payout options for after-tax prize money: 1. $170,000 per year at the end of each of the next six years 2. $312,000 (lump sum) now 3.$508,000 (lump sum) six years from now The annual discount rate is 9\%. Compute the present value of the first option. (Round your answesto the nearest whole dollar.) Present value of an ordinary annuity of $1 : Present value of $1 : (Competency 4 : Learning Objective 6) A company is considering an iron ore extraction project that requires an initial investment of $512,000 and will yield annual cas inflows of $156,000 for four years. The company's discount rate is 9%. What is the NPV of the project? Present value of an ordinary annuity of $1 : $6,560 (B) $(102,400) (C) $102,400 (D) s(6,560) Present value of $1 : $850,000 $762,620 $482,000 $457,251