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You ve just joined the investment banking firm of Dewey, Cheatum, and Howe. They ve offered you two different salary arrangements. You can have $

Youve just joined the investment banking firm of Dewey, Cheatum, and Howe. Theyve offered you two different salary arrangements. You can have $8,200 per month for the next two years, or you can have $6,900 per month for the next two years, along with a $37,000 signing bonus today. Assume the interest rate is 6 percent compounded monthly.
If you take the first option, $8,200 per month for two years, what is the present value?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
What is the present value of the second option?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.

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