1. For the business expansion, Atlas Corp. wants to purchase new equipment. Based on the 10% discount rate, there are 3 options:

1. Pay 100,000 at the beginning of the first year and then pay 120,000 semiannually for 4 years.

2. Pay 500,000 at the beginning of the third year and pay 800,000 at the end of the 8th year.

3. At the beginning of the 5th year, pay 300,000 annually for 4 years.

Which option should Atlas Corp choose?