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: 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 installment 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 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 dollar 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) Oution 4 PV 1.000.000

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A machine costing $150 000 has a useful life of eight years, after which time its estimated resale value is $25 000. Annual running costs will be $5 000 for the first three years of use and then $8 000 for each of the next five years. All running costs are payable on the last day of the year to which they relate.Required:Using discount rate of 20% per annum, calculate the annual equivalent cost of using the machine if it were bought and replaced every night years in perpetuity (to the nearest $100)(Round discount factor to two decimal places)

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