Exercise C-9 (Algo) Calculate the present value of a single omount (LO C-3) Lights, Camera, and More sells 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 coneldering buying equipment from Uights, Camera, and More for $55,000 and therefore has the following payment options Required: 1-o. Assuming an annual discount rate of 118 , 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. Assuming an annual discount rate of 11%, calculate the present value and the total cost. (FV of \$1, PV of \$1, FVA of \$1, and PVA of \$1) (Use tables, Excel, or a finandal calculator, Plound your answers to 2 decimal places.)