A business has two investment choices. Alternative 1 requires an immediate outlay of $3,500 and offers a return of $8,500 in eight years. Alternative 2 requires an immediate outlay of $2,300 in return for which $300 will be received at the end of every six months for the next eight years. The required rate of return on investment is 11% semi-annually. Compute the net present value of each alternative and determine which investment should be accepted or rejected according to the net present value criterion. The net present value of Alternative 1 is $17. (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.) The net present value of Alternative 2 is $ (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.) The preferred alternative is Alternative 1. Alternative 2