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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 paymentof $$2,173,000,$ or it can make annual payments of $$265.400$ for $15$ years.

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Payments must begin now and be made on the first day of each of the $15$ years, What payment method would you recommend assuming an expected effective$-$interest rate of $9\%$ during the future periad? Pround foctor volues to $5$ decingl places, ey: $1\mathrm{.}25124$ and final answer to $0$ decimal places eg$,458\mathrm{.}581)$

Present value of annual payment $ $$

Recommended payment method $$

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