You decide to purchase some equipment for your business. You have have two alternative payment plans in which you pay for the equipment at a later date.

Alternative A has a $2\mathrm{.}5\%$ annual cost of capital and you will owe $$570$ in $7$ years.

Alternative B has a $8\mathrm{.}8\%$ annual cost of capital and you will owe $$548$ in $12$ years.

What is the present value of the alternative that you should choose $($Round to the nearest cent$)?$