Lights, Camera, and More sells filmmaking equipment. The company offers three purchase options:() 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 $50,000 and therefore has the following payment options: Option 1 $50,000$ Option 2 25,000 Option 3 Payment Payment in Total TodayOne Year Payment 0 $50,000 52,500 57,500 37.500 0 57,500 Required 1-a. Assuming an annual discount rate of 10%, calculate the present value and the total cost. (ROSI, PV of$1. EVAof$1, and PVAof $) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Payment Present Value of Total Present Value TodayPayment in One Year (or Total Cost) Option 1 50,000 Option 2 Option 3 1-b. Which option's cost has the lowest present value