Harding Company is in the process of purchasing several large pieces of equipment from Danning Machine Corporation. Several financing alternatives have been offered by Danning: (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. Pay $1,070,000 in cash immediately 2. Pay $400,000 immediately and the remainder in 12 annual installments of $80,000, with the first installment due in one year, 3. Make 12 annual installments of $130,000 with the first payment due immediately 4. Make one lump-sum payment of $1720,000 six years from date of purchase. Required: Determine the best alternative for Harding, assuming that Harding can borrow funds at a 8% interest rate (Round your final answers to nearest whole dollar amount.) PV $ 1,070,000 Option 1 Option 2 Option 3 Option 4 The best alternative for Harding