A company must make a choice between two investment alternatives. Alternative 1 will return the company $33,000 at the end of two years and $65,000 at the end of six years. Alternative 2 will return the company $6,000 at the end of each of he next six years. The company normally expects to earn a rate of return of 14% 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.)