ces Hard Hat Company is in the process of purchasing several large pieces of equipment from Machine Corporation. Several financing alternatives have been offered by Machine: 1. Pay $1,030,000 in cash immediately. 2. Pay $470,000 immediately and the remainder in 10 annual installments of $85,000, with the first installment due in one year. 3. Make 10 annual installments of $147,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,640,000 five years from date of purchase. Required: Determine the best alternative for Hard Hat, assuming that Hard Hat can borrow funds at a(n) 9% interest rate. Note: Round your final answers to nearest whole dollar amount. Use tables, Excel, or a financial calculator. (EV of $1 PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) Option 1 Option 21 Option 3 Option 4 The best alternative for Hard Hat PV