To solve this we use the equation,
M1V1 = M2V2
where M1 is the concentration of the stock solution, V1 is the volume of the stock solution, M2 is the concentration of the new solution and V2 is its volume.
3 M x V1 = 0.50 M x .400 L
V1 = 0.07 L or 66.67 mL of the 3M sodium hypochlorite solution
The correct answer is the second option given.