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Exercise 6-18 Assume that Sonic Foundry Corporation has a contractual debt outstanding. Sonic has available two means of settlement. It can either make immediate payment

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Exercise 6-18 Assume that Sonic Foundry Corporation has a contractual debt outstanding. Sonic has available two means of settlement. It can either make immediate payment of $2,206,000, or it can make annual payments of $285,400 for 15 years, each payment due on the last day of the year which method of payment do you recommend, assuming an expected effective interest rate o, 0% during the future period? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581. Present Value of annual payments Recommended payment method LINK TO TEXT

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