A company must make a choice between two investment alternatives. Alternative $1$ will return the company $$$$33$ comma $000$ at the end of two years and $$$$70$ comma $000$ at the end of nine years. Alternative $2$ will return the company $$$$11$ comma $500$ at the end of each of the next nine years. The company normally expects to earn a rate of return of $10\%$ on funds invested. Compute the present value of each alternative and determine the preferred alternative according to the discounted cash flow criterion.

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Part $1$

The present value of Alternative $1$ is $$$

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$($Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as$$ needed.$)$

Part $2$

The present value of Alternative $2$ is $$$

$$

enter your response here.

$($Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as$$ needed.$)$

Part $3$

The preferred alternative is

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