In 1895, the Winner of a Competition Was Paid $110

Multiple Choice

In 1895, the winner of a competition was paid $110. In 2006, the winner's prize was $70,000. What will the winner's prize be in 2040 if the prize continues increasing at the same rate?

A) $389,400
B) $421,122
C) $479,311
D) $505,697
E) $548,121