Hard Hat Company is in the process of purchasing several large pleces of equipment from Machine Corporation. Several financing alternatives have been offered by Machine: 1. Pay $1,080,000 in cash immediately. 2. Pay $411,000 immediately and the remainder in 10 annual installments of $89,000, with the first installment due in one yeat. 3. Make 10 annual installments of $151,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,680,000 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. (FV of S1. PV of S1, EVA of $1. PVA of \$1. EVAD of \$1 and PVAD of \$1)