Grant Corp. 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 $24,000 at the date of employment and another $62,000 five years later. Assuming the employee's time value of money is 8% annually, what single payment in the first option would be equal to the total of the payments in the second option? Use the appropriate factor table(s) to answer the question. (round to the nearest dollar). $86,000 $42,196 O $66,196 $58,530 None of the above