Connor Carnes is the Linebacker in the AC Football Team. After winning the William B. Traylor Award for Hard Work and Dedication, Connor received an offer to play for a local club team. The Club offered Connor a five-year contract with two alternate payment options: (a) Plan-1: The Cub will pay $40,000 per year for the five years during the contract period (Year-1 to Year-5). (b) Plan-2: The Cub will pay $50,000 now and $25,000 per year for the five years during the contract period (Year-1 to Year-5). All payments are end of the year payments. Being a History Major, Connor Carnes had no idea how to evaluate these alternate options. Persuaded by the prospect of having an instant payment of 50K, Connor was thinking about accepting Plan-2. Knowing that you are now an expert on the time value of money topics, Connor asked for your advice. After doing some calculations using an 8% discount rate, you explained to Connor that he would lose money if he accepted Plan-2. How much would Connor lose in today's dollar value by taking Plan-2?