Question 20 - Chapter 5 - Connect My Overview Chegg.com Saved Help Save & Exit S Check my w You've just joined the investment banking firm of Dewey, Cheatum, and Howe. They've offered you two different salary arrangements. You can have $7,700 per month for the next three years, or you can have $6,400 per month for the next three years, along with a $34,500 signing bonus today. Assume the interest rate is 8 percent compounded monthly. a. If you take the first option, $7,700 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.) a. Value of first option b. Value of second option 19 SIV MacBook Air