A detailed calculation process is required

5. For the business expansion, Double Win Corp. wants to purchase new equipment. Based on the 8% nominal interest rate, there are 2 options: Option 1: Pay 50,000 at the beginning of the first year and then pay 6,000 semiannually for 3 years. Option 2: At the beginning of the 3rd year, pay 20,000 annually for 6 years. Which option should Double Win Corp choose? (10 marks)