Tonuments, Inc. wants to purchase ten 3-D printers on January 1, 2022, that will "print" onuments to custom sizes. The following are the alternatives available from several printer ompanies. 1. Purchase 10 printers for $1,100,000 each, payment due immediately. 2. Purchase 10 printers in total with a down payment of $1,700,000 today and $1,300,000 a year, payable starting on December 31, 2020, and on December 31 of the next 11 years (a total of 12 annual payments). 3. Lease the 10 printers as a group for $1,750,000 per year, paid annually on January 1 , with the first payment made immediately, for 13 years total. The printers in this arrangement have a unique feature that will allow Monuments to use the printers overnight to print animal statues, an arrangement that Monuments estimates will return an extra net cash inflow of $38,000 per month (collected at the end of each month). This arrangement will not compromise the main use of these printers - that is, to print monuments. 4. Lease the 10 printers as a group for $1,250,000 per year, paid annually on January 1 , with the first payment made immediately, for 15 years. Assume the following: - The relevant market rate of interest is 9%. Ignore tax considerations. - The printers all have the same useful lives and productivity in monument printing. - Monument has sufficient resources and is looking solely to determine which of these four assumptions is the least expensive. Required: 1. Show your calculations for each of the four alternatives above. 2. Which of these alternatives is the least expensive