Today is January $1,2009.$ The state of Iowa has offered your firm a subsidized loan. It will be in the amount of $$10,000,000$ at an interest rate of $5$ percent and have ANNUAL $($amortizing$)$ payments over $3$ years. The first payment is due today and your taxes are due January $1$ of each year on the previous year's income. The yield to maturity on your firm's existing debt is $8$ percent. What is the APV of this subsidized loan? If you rounded in your intermediate steps, the answer may be slightly different from what you got. Choose the closest.

Group of answer choices

$$$$3,497,224\mathrm{.}43$

$$417,201\mathrm{.}05$

$$840,797$

none of the options