You've just joined the investment banking firm of Dewey, Cheatum, and Howe. They've offered you two different salary arrangements. You can have $7,300 per month for the next three years, or you can have $6,000 per month for the next three years, along with a $32,500 signing bonus today. Assume the interest rate is 8 percent compounded monthly.

a.If you take the first option, $7,300 per month for three years, what is the present value?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

b.What is the present value of the second option?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)