You are the accountant for Sam's Cooking Company. The company has been negotiating with various car dealers in an attempt to get the best deal on a new Vroom Vroom XKY. The purchasing manager provides you with a summary of three offers and asks you to analyze them to determine the best arrangement. The options available are to: 1. Pay $55.000 cash time on interest free note for $57,000 repayable in 24 equal monthly instalents I. Issue a 8% note for $53,000 payable in 24 equal monthly instaliments. For a car loan, Sam's Cooking's bank will charpe the company a nominal rate of 3% per annum, payable monthly Requirements Requirement a. Analyze the offers in terms of the cost of the purchase expressed in present value form. Round the money interest rates to the rest hundredth of a percent, X. U 30 francia calculator for any presenta un computations Round monthly payment calculation to the nearest dollar. Enter your final raportive amours rounded to the neare dollar) Compute the present value of the consideration given up for each option Option : $ 55000 Options Go NE ein 241 je the i Definition x 1 the cos utation earest hundredth o e amounts rounded Requirements a. Analyze the offers in terms of the cost of the purchase expressed in present value terms. b. Independent of requirement (a), prepare the journal entry to record 1) the purchase of the automobile assuming that Sam's Cooking issued the $53,000 note, and ii) the first payment on the loan. on given Print Done then click Check