Your company is interested in having a new facility constructed. The contractor expects that it will take approximately 3 years to complete the building. The contractor has offered you three payment plans for the building. They are as follows:

Time Plan 1 Plan 2 Plan 3

Today $1,800,000 $0 $1,200,000

1 year from now $0 $6,525,000 $3,900,000

2 years from now $5,700,000 $0 $3,900,000

3 years from now $5,700,000 $6,525,000 $3,900,000

The CFO of your company has asked you to provide recommendation concerning which payment plan to accept. What is your recommendation? Assume your weighted-average cost of capital is 16% and you have sufficient cash on hand to make any required payments today.