General Motors advertised three alternatives for a 19-month lease on a new Tahoe: (1) zero dollars down and a lease payment of $2.700 per month for 19 months, (2) $8,900 down and $2,450 per month for 19 months, or (3) $48,500 down and no payments for 19 months. (Table B1. Table 3.2. Table 8.3. and Table B4) (Use appropriate factor(s) from the tables provided.) Calculate the total present value of lease payments under the three alternatives (assume the annual interest rate is 12% compounded monthly Option 1 Table Value Amount Present Value Down Payment Monthly Payments Total Present Value 1.0000 17.2260 $ 2,700 46,510 46.510 Option 2 Present Value Table Value 1.0000 17.2260 Down Payment Monthly Payments Total Present Value Amount $ 8,900 $ 2450 $ 8,900 42,204 51,104 $ Option 3 Down Payment Total Present Value Table Value 1.0000 Amount $ 48,500 Present Value $ 48,500 $ 48,500 Indicate which is the best alternative (assume you have enough cash to accept any alternative). Option 1 Option 2 Option 3