Exercise 5-9 (Algo) Noninterest-bearing note; single payment (LO 5-5) Lights, Camera, and More seils filmmaking equipment. The company offers three purchase options: (1) pay full cash today, (2) pay onehalf down and the remaining one-half plus 10% in one year, or (3) pay nothing down and the full amount plus 15% in one year George is considering buying equipment from Lights, Camera, and More for $80,000 and therefore has the foilowing payment options: Required: 1-e. Assuming an annual discount rate of 1 \% calculate the present value and the total cost. 1-b. Which option's cost has the lowest present value? Complete this question by entering your answers in the tabs below. Afsumitig an anntuah diccount rate of 11%, calculate the preterit watud and tha total cost. Assuming an annual discount rate of 11%, calculate the present value and the total cost. 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 )