Dr$.$ Harold Wolfe of Medical Research Corporation $($MRC$)$ was thrilled with the response that he had received from the medical community for his latest discovery, a unique electronic stimulator that reduces the pain from arthritis. Although the device has yet to receive FDA approval, early stage clinical trials have been deemed a tremendous success. Several medical device companies have expressed intense interest in partnering with Dr$.$ Wolfe in the distribution of his device once full approval has been granted.

So confident are these medical device distributors in the success of his new invention, Dr$.$ Wolfe has offers from three different companies relating to a partnership for the sale of his device to patients and hospitals. These three offers are detailed below. In any event, these types of medical devices typically have a lifespan of about $10$ years before the next revolutionary product is developed. As such, all three offers are for a term of ten years from today.

Recognizing that this may be his best, and perhaps, only shot at monetizing years of research and development, Dr$.$ Wolfe wants to be absolutely sure that he makes the best deal for himself. Also keenly aware of the risks involved in the medical device industry, Dr$.$ Wolfe believes that a $10\%$ discount rate is appropriate for this decision.

Offer $1$ Zbay Pharmaceuticals has offered Dr$.$ Wolfe a payment of $$1$ million today, plus $$200,000$ at the end of years $6$ through $10.$

Offer $2$ Traxis Health, Inc. is offering Dr$.$ Wolfe $9$ payments of $$250,000$ per year, with the first payment being made $1$ year from today. Additionally, at the end of year $10,$ Dr$.$ Wolfe will receive a final payment of $$2$ million.

Offer $3$ Ipscar Medical Manufacturing is offering a unique payment arrangement. Ipscar will make $10$ deposits of $$400,000$ each into a trust fund. The first of these deposits will be made $1$ year from today. At the end of the $10$th year, Dr$.$ Wolfe will receive the proceeds of the trust fund. Once each deposit is made into the trfund, these funds will earn interest of $10\%$ per year until the end of year $10.$

Dr$.$ Wolfe has asked for your assistance in making the most economical decision. He will need a quick response as he has until the end of the day to sign a contract with one of the distributors. Hint: Think about maximizing the total present value of his choice.

MAke an additonal offer recommendation to Dr$.$ Wolfe and explain why your recommended offer is in his best interests?