Bill Zimmerman is evaluating two new business opportunities. Each of the opportunities shown below has a 15-year life. Bill uses a 11% discount rate.

		Option 1		Option 2
Equipment purchase and installation		$71,100		$82,630
Annual cash flow		$28,100		$30,250
Equipment overhaul in year 6		$4,890		-
Equipment overhaul in year 8		-		$6,050

(a)

Calculate the net present value of the two opportunities. (Round present value factor calculations to 4 decimal places, e.g. 1.2514 and the final answers to 0 decimal places, e.g. 59,991.)

	Option 1	Option 2
Net present value	$enter a dollar amount rounded to 0 decimal places	$enter a dollar amount rounded to 0 decimal places