Denzel needs a new car. At the dealership, he finds the car that he likes. The dealership gives him two payment options 1. Pay $25,000 for the car today. 2. Pay $2.000 at the end of each quarter for three years. Requirec 1.a. Assuming Denzel uses a discount rate of 12% (or 3% quarterly. calculate the present value. EVofS1, PVofSL EVA of$1, and PVA of $1 (Use appropriate factor(s) from the tables provided. Round your answers to 2 declmal places.) Present Value Option 1 Option 2 1-b. Which option gives him the lower cost? O Option 2 Option1