A manufacturing firm purchased a heavy duty drilling machine. They were given two payment options: Option 1: Make a payment of $36,000 immediately to settle the invoice for the machine. Option 2: Make a payment of $21,500 immediately and the balance of $23,550 in 3 months to settle the invoice. If money is worth 4.12% compounded quarterly, answer the following: a. What is the total present value of Option 2? a. What is the total present value of Option 2? Round to the nearest cent b. Which option is economically better for the manufacturing firm? Option 1 Option 2