An obligation can be settled by making a payment of $8,500 now and a final payment of $8,000 in seven years (Alternative 1). Alteratively, the obligation can be settled by payments of $1,200 at the end of every six months for seven years (Alternative 2). Interest is 10% compounded semi-annually. Compute the present value of each alternative and determine the preferred alternative according to the discounted cash flow criterion. D The present value of Alternative 1 is $ (Round to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.) The present value of Alternative 2 is $ (Round to the nearest dollar as needed. Round all intermediate values to six decimal places as needed) Therefore, the best alternative is CO Moxt