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 S1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. Pay $1,080,000 in cash immediately 2.Pay $400,000 immediately and the remainder in 10 annual installments of $82,000, with the first instailment due in one year 3 Make 10 annual installments of $140,000 with the first payment due immediately 4. Make one lump-sum payment of $1,610,000 five years from date of purchase Required: Determine the present value, assuming that Harding can borrow funds at an 8% interest rate. PV Option 1 Option 2 Option 3 Option 4 1,080,000