An environmental consultant is considering the installation of a water storage tank for a client. The tank is estimated to have an initial cost of $418,000, and annual maintenance costs are estimated to be $8,000 per year. As an alternative, a holding pond can be provided a short distance away at an initial cost of $264,000 for the pond plus $90,000 for pumps and piping. Annual operating and maintenance costs for the pumps and holding pond are estimated to be $16,000. The planning horizon is 20 years, and at that time, neither alternative has any salvage value. MARR is 21 %/year. What is the present worth of each alternative? Storage tank: $ Holding pond: $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is plusminus 100. Which is the preferred alternative