Let $f(t) = e^{-|t|}$, then with $\hat{f} = {\cal F} f$, we have
$\hat{f}(x) ={2 \over 1+x^2}$. The inversion theorm gives
\begin{eqnarray}
f(t) &=& {1 \over 2\pi}\int_{\mathbb{R}} {2 e^{i xt} \over 1 + x^2} dx\\
&=& {1 \over \pi}\int_{-\infty}^0 {e^{i xt} \over 1 + x^2} dx + {1 \over \pi}\int_0^\infty {e^{i xt} \over 1 + x^2} dx\\
&=& {1 \over \pi}\int_0^\infty {e^{i xt} + e^{-ixt}\over 1 + x^2} dx\\
&=& {2 \over \pi} \int_0^\infty {\cos(xt)\over 1 + x^2} dx \\
&=& {4 \over \pi} \int_0^\infty {\cos(2yt)\over 1 + (2y)^2} dy \\
\end{eqnarray}
and so (1) is given by ${\pi \over 4} f({1 \over 2})$.
Look at $f(0)$ and the Plancherel/Parseval identity for (2).