Davenport Incorporated offers a new employee two options. First, the employee can receive a one-time signing bonus at the date of employment. Second, the employee can take $32,000 at the date of employment and another $60,000 seven years later. Assuming the employee's time value of money is 10% annually, what single payment in the first option would be equal to the total of the payments in the second option? Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of \$1, PV of \$1, EVA of S1, and PVA of \$1). Multiple Choice $76,421 $29,500 $62,790 $92,000