Shelley wants to cash in her winning lottery ticket. She can either receive eight $100,000 semiannual payments starting today, or she can receive a single-amount payment today based on a 6% annual interest rate. What is the single-amount payment she can receive today? Refer to present value tables as needed.
a. $744,090.
b. $853,020.
c. $1,293,794.
d. $801,969.