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Hard Hat Company is in the process of purchasing several large pieces of equipment from...

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Accounting

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 $1,000,000 in cash immediately. Pay $450,000 immediately and the remainder in 10 annual installments of $83,000, with the first installment due in one year. Make 10 annual installments of $145,000 with the first payment due immediately. Make one lump-sum payment of $1,620,000 five years from date of purchase.

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