CULUM JUTO Rachel, an office administrator, is evaluating the following quotation that she received for the purchase of a printer for her office: Lease Option: Make payments of $85 at the beginning of every month for 5 years. At the end of 5 years, make the final payment of $1,250. Purchase Option: Make a payment of $5,250 immediately. a. What is the present value of the lease option if money is worth 6.6% compounded semi-annually? $4,366.66 Round to the nearest cent b. Which option would be economically better? Purchase Option