Assume that Sonic Foundry Corporation has a contractual debt outstanding. Sonic has available two means of settlement. It can either make immediate payment of $$2,775,000,$ or it can make annual payments of $$340,000$ for $15$ years.

Assume that Sonic Foundry Corporation has a contractual debt

outstanding. Sonic has available two means of settlement. It can either

make immediate payment of $$2,775,000,$ or it can make annual payments

of $$340,000$ for $15$ years.

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Payments must begin now and be made on the first day of each of the $15$

years. What payment method would you recommend assuming an

expected effective$-$interest rate of $9\%$ during the future period? $($Round

factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal

places, e$.$g$.458,581.)$

Present value of annual payment

Payments must begin now and be made on the first day of each of the $15$ years. What payment method would you recommend assuming an expected effective$-$interest rate of $9\%$ during the future period? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$