Bunker Hill Mining Company has two competing proposals: a processing mill and an electric shovel. Both pieces of equipment have an initial investment of $671,584. The net cash flows estimated for the two proposals are as follows: The estimated residual value of the processing mill at the end of Year 4 is $270,000. Determine which equipment should be favored, comparing the net present values of the two proposals and assuming a minimum rate of return of 12%. Use the present value table appearing above