You've just joined the investment banking firm of Dewey, Cheatum, and Howe. They've offered you two different salary arrangements. You can have $129,000 per year for the next two years, or you can have $50,000 per year for the next two years, along with a $25.000 signing bonus today. The bonus is paid immediately, and the salary is paid at the end of each year. Required: (a) If the interest rate is 8 percent compounded monthly, what is the present value of the first arrangement? (b) If the interest rate is 8 percent compounded monthly, what is the present value of the second arrancement