Please show your calculations in Excel $($the Excel formulas that we would use to solve this problem with the answers$).$

Ben is considering purchasing a $2024$ Toyota Tundra SR $5$ for $$39,965.$ The dealer is offering the following three options to own or lease the vehicle. If he plans to change his car every three years, which option would you recommend? Why?

Residual Value $($Resale Value$)=$$$19,120$

Option $1.$ Since Ben just graduated college, he can receive a $$500$ instant cash rebate from the MSRP and purchase the car outright in cash. Dealer

fee and sales taxes will be $$2,633\mathrm{.}68.$

Option $2.$ Finance the vehicle for $36$ months at $4\mathrm{.}99\%$ annual interest with a down payment of $$3,953.$Dealer fee and sales taxes will be $$2,633\mathrm{.}68.$

Option $3.$ Lease the vehicle for $36$ months with a $$439$ monthly payment and

$$3,999$ due at signing $($with a $10,000$ annual mileage limit$).$

$1.$ What is the total cost of Option $1?$

$2.$ What is the monthly payment for Option $2?$

$2.$ What is the total cost of Option $2?$

$4.$ What is the total cost of Option $3?$

$5.$ Which option would you recommend based on the total cost of the car? Why?

$6.$ Considering Option $3,$ what other factors should you consider?

Provide at least $3$ advantages and $3$ disadvantages for all three options associated with this decision considering the total cost of the car, the residual value of the car, cash flow, etc.