A company must choose between two investments. Investment C requires an immediate outlay of $67,000 and then, in two years, another investment of $47,000. Investment D requires annual investments of $27,000 at the beginning of each of the first four years. C would return annual profits of $24,500 for 10 years beginning with the first year. Ds profits would not start until Year 4 but would be $43,500 in Years 4 to 10 inclusive. The residual values after 10 years are estimated to be $47,000 for C and $37,000 for D. 1. Which investment should the company choose if its cost of capital is 10%? 2.How much more is the preferred project worth today?

Do not round intermediate calculations, Round final answer to the nearest whole dollar.