You have the choice of receiving $50,000 now, or $29,000 now and another $35,000 seven years from now. In terms of today's dollar, which choice is better and by how much? Money is worth 6.7% compounded annually.

Which choice is better?

A. The choice of $29,000 now and $35,000 in seven years is better.

B. They are equal in value.

C. The choice of $50,000 now is better.

The better choice is greater than the alternative choice by $_____ in terms of today's dollar.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)