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, of 3) pay nothing down and the full amount plus 15% in one year. George is considering buying equipment from Lights, Camera, and More for $135,000 and therefore has the following payment options: Option 1 Option 2 Option 3 Payment Doday $135,000 67,500 0 Vayment in One Year $0 74.250 155,250 Total Payment 5135,000 241.750 155,250 Required: 1-0. Assuming an annual discount rate of 11%, calculate the present value and the total cost. (FV of $1. PV of $1. FVA of S1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Payment Today Present Value of Total Present Value Payment in One Year for Total Cost) $ 135,000 $ 135,000.00 S 135 000 Option 1 Option 2 Option 3 1-b. Which option's cost has the lowest present value