$3.$ Assume that you are the finance officer for an equipment dealer. The owner has asked you to determine the markup needed and a rebate policy for the following financing packages. Assume that you need to net $($today$)$ $$750,000$ on a particular machine for the dealership to break even and that market interest rates are $8\%$ AR$.$ All payment plans are to involve monthly payments. Determine the common list price and a rebate needed in each case to break even with either financing option.

a$."$ No payments for $12$ months, $48$ month financing at a $0\%$ AR$."$

b$."1\%$ AR financing for $5$ years $(60$ months$)."$