2. 4.36 Three different plans were presented to the Alphabet Corporation for operating an identity-theft scanning system. Plan A involves renewable 1-year contracts with payments of $1 million at the beginning of each year. Plan B is a 2-year contract that requires four payments of

$600,000 each, with the first one made now and the other three at 6-

month intervals. Plan C is a 3-year contract that entails a payment of

$1.5 million now and a second payment of $0.5 million 2 years from now. Assuming that the company could renew any of the plans under the same payment conditions, determine which plan is best on the basis of a PW analysis at a MARR of 6% per year compounded semiannually.