A company must make a choice between two investment alternatives. Alternative 1 will return the company $30,000 at the end of 4 years and $65000 at the end of 7 years. Alternative 2 will return the company $13,500 at the end of each of the next 7 years. The company normally expects to earn a rate of return of 13% on funds invested. Compute the present value of each alternative and determine the preferred alternative according to the discounted cash flow criterion.

The present value of Alternative 1 is ? (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.)