please answer with correct and detailed calculations and explanations. make sure supporting statements are also provided for each step and calculation.

Option 1 - A company is currently paying its employees $0.38 per kilometre to drive their own cars on company business. Option 2 - The company is considering supplying employees with cars, which would involve purchasing at $26279, with an estimated three year life, a net salvage value of $8215, taxes and insurance at a cost of $790 per year, and operating and maintenance expenses of $0.22 per kilometre. If the interest rate is 10.20% and the company anticipates an employee's annual travel to be 22,000 kilometres, answer the following questions: (Keep 2 decimal places) The equivalent cost per km for Option 2 is $ The equivalent cost per km for Option 1 is $ The cheaper option for the company is