Final answer:
Each year, about $15 million in FFA scholarships is available. Present value calculations of future scholarships suggest a yearly disbursal of $15 million, given the example figures. However, the exact number of students who would receive $250 or more from a sample of 200 cannot be determined with the data provided.
Step-by-step explanation:
About $15 million in FFA scholarships is available each year for students. However, when calculating the present value of scholarships being offered over multiple years, we notice that these amounts appear to depreciate with the provided formula. For instance, a $20 million scholarship available next year would be equivalent to $17.4 million today, assuming a discount rate of 15% (which is what the calculation appears to imply).
The total of $51.3 million provided in the question seems to include the present value calculations of scholarships over at least two years, suggesting that the yearly amount is indeed $15 million, excluding any potential appreciation or depreciation of future scholarships not accounted for.
For the second part of the question regarding the number of students expected to receive $250 or more, the information given does not provide enough context or data to make such a determination. Therefore, the correct answer to the second part would be 'D. Cannot be determined'.