An unavoidable cost may be met by outlays of $30,000 now and $4,000 at the end of every six months for two years (Alternative 1) or by making monthly payments of $825 for six years (Alternative 2). Interest is 11% compounded annually. 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.) The present value of Alternative 2 is $7. (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.) The preferred alternative is Alternative 1. Alternative 2