Monty is ready to retire and has a choice of three pension plans. Plan A provides for an immediate cash payment of $296,000. Plan B provides for the payment of $38,000 per year for 6 years and the payment of $211,000 at the end of year 6. Plan C will pay $36,800 per year for 6 years. Monty desires a return of 10 percent.

Determine the present value of each plan.

Present value

Plan A $

Plan B $

Plan C $