Emily has $100,000 that she wants to invest and is considering the following two options: Option A: Investment in Redbird Mutual Fund, which is expected to produce interest income of $8,000 per year. Option B: Investment in Cardinal Limited Partnership (buys, sells, and operates wine vineyards). Emily's share of the partnership's ordinary income and loss over the next three years would be as follows: Year Income (Loss) 1 ($8,000) 2 (2,000) 3 34,000 Emily is interested in the after-tax effects of these alternatives over a three-year horizon. Assume that Emily's investment portfolio produces ample passive activity income to offset any passive activity losses that may be generated. Her cost of capital is 8%, and she is in the 32% tax bracket. The two investment alternatives possess equal growth potential and comparable financial risk. The present value factors at 8% are: Year 1: 0.9259, Year 2: 0.8573, and Year 3: 0.7938. a. Based on these facts, compute the present value of these two investment alternatives. Round the present value (PV) to the nearest dollar.