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 $80,000 and therefore has the following payment options:

	Payment Today	Payment in One Year	Total Payment
Option 1	$80,000	$ 0	$80,000
Option 2	40,000	44,000	84,000
Option 3	0	92,000	92,000

Required:
1-a.	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 appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.)