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Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options: Pay $ 2

Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options:
Pay $28,000 today for the car.
Pay $2,600 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.
Req 1A
Req 1B
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)
\table[[,Present Value],[Option 1,],[Option 2,]]
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