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 today	payment in 1 year	total payment
option 1	140,000	0	140,000
option 2	70,000	77,000	147,000
option 3	0	161,000	161,000

Assuming an annual discount rate of 10%, calculate the present value and the total cost.