Ralston Consulting, Inc., has a $45,000 overdue debt with Supplier No. 1. The company is low on cash, with only $12,600 in the checking account and does not want to borrow any more cash. Supplier No. 1 agrees to settle the account in one of two ways:

Option 1: Pay $12,600 now and $42,750 when some large projects are finished, two years from today.

Option 2: Pay $63,000 three years from today, when even larger projects are finished. Assuming that the only factor in the decision is the cost of money (12%).

Calculate the present value of each option. Round your present value factor to three decimal places and final answer to the nearest dollar.

Present value of Option 1	$___
Present value of Option 2	$___