Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options: 1. Pay $27,000 today for the car. 2. Pay $2,400 at the end of each quarter for three years. Required: 1-a. Assuming Denzel uses a discount rate of 12% (or 3% quarterly), calculate the present value. 1-b. Which option gives him the lower cost? Complete this question by entering your answers in the tabs below. Assuming Denzel uses a discount rate of 12% (or 3% quarterly), calculate the present value. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of \$1, PV of \$1, FVA of \$1, and PVA of $1 ) Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options: 1. Pay $27,000 today for the car. 2. Pay $2,400 at the end of each quarter for three years. Required: 1-a. Assuming Denzel uses a discount rate of 12% (or 3% quarterly), calculate the present value. 1-b. Which option gives him the lower cost? Complete this question by entering your answers in the tabs below. Which option gives him the lower cost