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Problem 5 - 3 ( Algo ) Analysis of alternatives [ LO 5 - 3 , 5 - 8 ] Hard Hat Company is in

Problem 5-3(Algo) Analysis of alternatives [LO5-3,5-8]
Hard Hat Company is in the process of purchasing several large pieces of equipment from Machine Corporation. Several financing alternatives have been offered by Machine:
Pay $1,160,000 in cash immediately.
Pay $461,000 immediately and the remainder in 10 annual installments of $94,000, with the first installment due in one year.
Make 10 annual installments of $156,000 with the first payment due immediately.
Make one lump-sum payment of $1,730,000 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 dollor 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)
\table[[,],[Option 1,],[Option 2,],[Option 3,],[Option 4,],[The best alternative for Hard Hat,]]
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