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Assume that Sonic Foundry Corporation has a contractual debt outstanding. Sonic has available two means of settlement. It can either make immediate payment of $$2,173,000,$ or it can make annual payments of $$265,400$ for $15$ years, each payment due on the last day of theyear.

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Which method of payment do you recommend, assuming an expected effective interest rate of $9\%$ during the future period? $($Round factor values to $5$ decimal places, eg$.1\mathrm{.}25124$ and final answer to $0$ decimal places, es$.458\mathrm{.}581)$

Present value of annual payments $

Recommended payment method

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