Your mother is planning to retire this year. Her firm has offered her a lump$-$sum retirement payment of $$45,000$ or a $$9,000$ lifetime annuity$$whichever she chooses. Your mother is in reasonably good health and expects to live for at least $19$ more years. Calculate the present values of each alternative, assuming that an $5$ percent interest rate is appropriate to evaluate the annuity. Use Table IV or a financial calculator to answer the question. Round your answer to the nearest dollar.

Lump sum payment: $

Lifetime annuity: $