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 $1,120,000 in cash immediately. 2. Pay $401,000 immediately and the remainder in 10 annual installments of $90,000, with the first installment due in one year. 3. Make 10 annual installments of $150,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,670,000 five years from date of purchase. Required: Determine the best alternative for Hard Hat, assuming that Hard Hat can borrow funds at a(n) 8% interest rate. Note: Round your final answers to nearest whole dollar amount. Use tables, Excel, or a financial calculator. (FV of \$1, PV of S1. FVA of \$1. PVA of \$1, FVAD of \$1 and PVAD of \$1) Helga is considering the purchase of a small restaurant. The purchase price listed by the seller is $860,000. Helga has used past financial information to estimate that the net cash flows (cash inflows less cash outflows) generated by the restaurant would be as follows: If purchased, the restaurant would be held for 10 years and then sold for an estimated $760,000. Required: Determine the present value, assuming that Helga desires a 12% rate of return on this investment. (Assume that all cash flows occur at the end of the year.) Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar amount. Use tables, Excel, or a financial calculator. (FV of \$1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1)