Donavan is self$-$employed and files a Schedule C $($Form $1040),$ Profit or Loss From Business. He paid three independent contractors more than $$600$ during $2022$ for their services. He failed to provide Form $1099-$NEC to them before February $1,2023,$ but he did provide the forms before February $28,2023.$ What is his penalty for failure to furnish information returns?

$$50$

$$110$

$$150$

$$580$