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 $140,000 and therefore has the following payment options Payment in Payment Today Total Payment $140,000 Option 1 $140,000 Octinn 61.000 161.000 Required: 1-a. Assuming an annual discount rate of 10 % , 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.) Present Value of Total Present otal Valde (or i Payme One Option 1 Ontion 2 Ontion 3. 1-b. Which option has the lowest total cost in present value terms? Option 1 Option 2 Option 3