Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options:

Pay $$29,500$ for the car today.

Pay $$2,900$ 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?