Problem 5-3 (Algo) Analysis of alternatives (LO5-3, 5-8] 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. EVA of $1. PVA of $1. FVAD of $1 and PVAD of $) (Use appropriate factor(s) from the tables provided.) 1. Pay $1,150,000 in cash Immediately. 2. Pay $460,000 immediately and the remainder in 12 annual instaliments of $80,000, with the first installment due in one year. 3. Make 12 annual installments of $135,000 with the first payment due immediately, 4. Make one lump sum payment of $1,630,000 five years from date of purchase, Required: Determine the best alternative for Harding, assuming that Harding can borrow funds at a 7% interest rate. (Round your final answers to nearest whole dollar amount.) PV Option 1 Option 2 Option 3 Option 4 The best alternative for Harding $ 1,150,000 $ 1,021,886 $ 1,014,556 $ 1,162,174 Option 3