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		$71,300		$82,260
Annual cash flow		$28,200		$30,690
Equipment overhaul in year 6		$4,590		-
Equipment overhaul in year 8		-		$5,970

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(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