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 $1,160,000 in cash immediately 2. Pay $461,000 immediately and the remainder in 10 annual instaliments of $94,000, with the first instaliment due in one year 3. Make 10 annual installiments of $156,000 with the first payment due immediately 4. Make one lump-sum payment of $1,730,000 five years from date of purchase. Required: Determine the best altemative for Hard Hat, assuming that Hard Hat can borrow funds at a(n) 8% interest rate Note: Round your final answers to nearest whole dollar amount. Use tobles, Excel, or a financial colculator. (EV of S1. PV of S1. EVA of S1. PVA of S1. FVAD of $1 and PVAD of S1]