Denzel needs a new car.A the dealership, he finds the car that he likes. The dealership glves him two payment options 1. Pay $33,500 tor the car today 2. Pay $3,T00 at the end or each quarter tor three years. Required: 1 a Assum n Denzel uses a discount rate o 8% or % quarter calculate he present value o c o and t se approp atet to s trom the tables rovided Round youranswers to 2 decimal laces. Present Value Option 1 33,500.00 Option 2 1-b. Which option gives him the lower cost? Option 1 Optlon 2