Yamaguji, Inc. has offered you 2 different salary arrangements. You can either have $50,000 at the end of the year for the next 2 years, or $35,000 at the end of the year for the next 2 years along with a $30,000 signing bonus today. If the interest rate is 12% compounded monthly, which one do you prefer? (Hint: Find the effective annual rate first, and then calculate the present value of both alternatives.)