EXERCISE 9-7. Calculate Present Value [LO 1] Mary Martinez is ready to retire and has a choice of three pension plans. Plan A provides for an immediate cash payment of $350,000. Plan B provides for the payment of $40,000 per year for 8 years and the payment of $200,000 at the end of year 8 . Plan C will pay $35,000 per year for 8 years. Mary Martinez desires a return of 8 percent. Determine the present value of each plan and select the best one