Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options: 1. Pay $32,500 for the car today. 2. Pay $3,500 at the end of each quarter for three years. Required: 1-a. Assuming Denzel uses a discount rate of 8% (or 2% quarterly), calculate the present value. 1-b. Which option gives him the lower cost? Req 1A Req 1B Assuming Denzel uses a discount rate of 8% (or 2% quarterly), calculate the present value. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places.) Present Value Option 11 Option 2. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Which option gives him the lower cost? Which option gives him the lower cost