Davenport Inc. offers a new employee a lump-sum signing bonus at the date of employment. Alternatively, the employee can take...

Davenport Inc. offers a new employee a lump-sum signing bonus at the date of employment. Alternatively, the employee can take $29,000 at the date of employment and another $52,000 five years later. Assuming the employee's time value of money is 10% annually, what lump-sum at employment date would make her indifferent between the two options?