On January 1, 2021, the Montgomery Company agreed to purchase a building by making six payments. The first three are to be $42.000 each, and will be paid on December 31, 2021, 2022, and 2023. The last three are to be $57,000 each and will be paid on December 31, 2024 2025, and 2026. Montgomery borrowed other money at a 12% annual rate. (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.) Required: 1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021? 2. How much interest expense on this note will Montgomery recognize in 2021? (For all requirements, Round your final answers to nearest whole dollar amount.) 1. Amount recorded 2. Interest expense Saved 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 $1,180,000 in cash immediately. 2. Pay $481,000 immediately and the remainder in 10 annual installments of $98,000, with the first installment due in one year. 3. Make 10 annual installments of $162,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,770,000 five 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.) 5 PV Option 1 Option 2 Option 3 Option 4 The best alternative for Harding