A company must make a choice between two investment alternatives. Alternative $1$ will return the company $$$$10,000$ at the end of four years and $$$$40,000$ at the end of nine years. Alternative $2$ will return the company $$$$10,000$ at the end of each of the next nine years. The company normally expects to earn a rate of return of $8\%$ 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 $$