Exercise C-5 Calculate the present value of a single amount (LOC-2) Lights, Camera, and More sells filmmaking equipment. The company offers three purchase options: (1) pay full cash today. (2) pay one- half 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 $135,000 and therefore has the following payment options: Option 1 Option 2 Option 3 Payment Today $135,000 Payment in One Year Total Payment $ 0 67,500 0 74,250 155,250 $135,000 141,750 155,258 Required: 1-6. Assuming an annual discount rate of 11%, calculate the present value and the total cost. (EV of$1. PV of $1 EVA of $1. and PVA of S1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Option 11 Option 21 Option 3 Payment Today Present Value of Payment in One Year Total Present Value (or Total Cost) 1-b. Which option's cost has the lowest present value?