Detailed Instructions: You are given a math word problem and you are supposed to make use of mathematical concepts like probability, combinatorics, linear equations, sequences/series, or simple operators like addition, subtraction, division, or multiplication to answer the given question. Choose the best option from the 5 given options and report that option.
Q: Question: What is the place value of 5 in the numeral 2534?

 Option A: 450

 Option B: 500

 Option C: 700

 Option D: 800

 Option E: 840
A:
Option B