Aband is considering the purchase of new amplifiers for its upcoming tour. The band's manager tells them the amplifiers would cost $70200 in total and only last for the next 2 years while they tour North America and Europe. The band assumes the equipment will be too smashed up to have any value thereafter. The sound quality improvement is expected to increase concert revenues by $40600 in the first year and $39200 in the second year. The manager uses a 20% cost of capital. What is the present value of the first year's revenue bump? $70200 $40600 $33833 $32667