g

$9\%$ rateAssume that Sonic Foundry Corporation has a contractnmual debt outstanding. Sonic has available two means of settlement. It can either

make immediate payment of $$2,519,000,$ or it can make annual payments of $$308,100$ 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