A company must make a choice between two investment alternatives. Alternative 1 will return the company $30,000 at the end of five years and $65,000 at the end of nine years. Alternative 2 will return the company $10,000 at the end of each of the next nine years. The company normally expects to earn a rate of return of 13% on funds invested. Compute the present value of each altemative 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.)