Lights, Camera, and More sells filmmaking equipment. The company offers three purchase options: $(1)$ pay full cash today, $(2)$ pa

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. Ge

considering buying equipment from Lights, Camera, and More for $$60,000$ and therefore has the following payment options:

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?

Complete this question by entering your answers in the tabs below.

Req $1$A

Req $1$B

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)$