ayments are PE-3 Analysis of matives ..06-3. L06-7 annually for y be recorded of the lease Harding Company is in the process of purchasing several large pieces of equipment from Daning Machine Cor poration. Several financing alternatives have been offered by Danning: 1. Pay $1.000,000 in cash immediately 2. Pay $420,000 immediately and the remainder in 10 annual installments of S80.006), with the first installment due in one year 3. Make 10 annual installments of $135,000 with the first payment due immediately. 4. Make one lump-sum payment of $1.500,000 five years from date of purchase. Required: Determine the best alternative for Harding, assuming that Harding can borrow funds at an 8% interest rate. item from