Assume that Sonic Foundry Corporation has a contractual debt outstanding. Sonic has available two means of settlement. It can either make immediate payment of $$2,673,000,$ or it can make annual payments of $$347,100$ for $15$ years, each payment due on the last day of the year.

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Which method of payment do you recommend, assuming an expected effective interest rate of $10\%$ 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 payments $

Recommended payment method