If the market rate of interest in BE3-34 were 10%, would you choose the same option?

In BE3-34

As CFO of a small manufacturing firm, you have been asked to determine the best financing for the purchase of a new piece of equipment. If the vendor is offering repayment options of $10,000 per year for five years, or no payment for two years followed by one payment of $46,000, which option would you recommend? The current market rate of interest is 8%.