17 Lights, Camera, and More sells filmmaking equipment. The company offers three purchase options: (1) pay full cash today, (2) pay one- half down and the remaining one-half plus 10% in one year, or (3) pay nothing down and the full amount plus 15% in one year. George is considering buying equipment from Lights, Camera, and More for $90,000 and therefore has the following payment options: 04:34:42 Option 1 Option 2 Option 3 Payment in Payment Today $90,000 One Year $ 45,000 0 0 49,500 103,500 Total Payment $ 90,000 94,500 103,500 Book Print rences Required: 1-a. Assuming an annual discount rate of 12%, calculate the present value and the total cost. (EV of $1, PV of $1, EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Option 13 Option 2 Option 3 Payment Today Present Value of Payment in One Year Total Present Value (or Total Cost) 1-b. Which option's cost has the lowest present value? O Option 1 O Option 2