Lights, Camera. and More sells lmmaking 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 $150,000 and therefore has the following payment options: Payment Payment in Total Today One Year Payment Option 1 $150,000 $ 0 $ 150,000 Option 2 75,000 82,500 157,500 Option 3 0 172,500 172,500 Required: 1-a. Assuming an annual discount rate of 11%, calculate the present value and the total cost. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) 1-b. Which option's cost has the lowest present value? 0 Option 1 0 Option 2 0 Option 3