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 $125,000 and therefore has the following payment options: Option 1 Option 2 Payment Today $125,000 62,500 Option 3 Payment in One Year $ 0 68,750 143,750 Total Payment 5 125,000 131,250 143,750 Required: 1-a. Assuming an annual discount rate of 11%, calculate the present value and the total cost. 1-b. Which option's cost has the lowest present value? Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Red 18 Assuming an annual discount rate of 11%, calculate the present value and the total cost. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places, (FV of $1, PV of $1, FVA of $1, and PVA of $1) Payment Today Present Value of Payment in One Total Present Value (or Total Year Cost) Option $125,000 $ 100$ Option 2 62,500 Option 00 129,516.75 125,000.00 12,443.75 129,518.75 (