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:

Pay $$1,030,000$ in cash immedlately.

Pay $$470,000$ immediately and the remainder in $10$ annual installments of $$85,000,$ with the first installment due in one year.

Make $10$ annual installments of $$147,000$ with the first payment due immediately.

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 doller amount. Use tables, Excel, or a financlal calculator. $($FV of $$1.$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

$\backslash$table$[[,],[$Option $1,$PV$],[$Option $2,],[$Option $3,],[$Option $4,],[$The best alternative for Hard Hat,$]]$