Youve just joined the investment banking firm of Dewey, Cheatum, and Howe. Theyve offered you two different salary arrangements. You can have $8,000 per month for the next two years, or you can have $6,700 per month for the next two years, along with a $36,000 signing bonus today. Assume the interest rate is 7 percent compounded monthly.

Requirement 1:If you take the first option, $8,000 per month for two years, what is the present value?(Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 2:What is the present value of the second option?