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Lights, Camera, and More sells filmmaking equipment. The company offers three purchase options: (1) pay full cash today, (2) pay onehalf 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 $85,000 and therefore has the following payment options. Required: 1-0. Assuming an annual discount rate of 11%, calculate the present value and the total cost. 1-b. Which option's cost has the lowest present value? Complete this question by entering your answers in the tabs below. Assuming an annual discount rate of 11%, calculate the present value and the total cost. Note: Use tables, Excel, or a financlal calculator. Round your answers to 2 declmal places. (FV of \$1, PV of $1, FVA of $1, and PVA of \$1)