Bunker Hill Mining Company has two competing proposals: a processing mill and an electric shovel. Both pieces of equipment have an initial investment of $743,490. The net cash flows estimated for the two proposals are as follows: Year Net Cash Flow Processing Mill Electric Shovel $227,000 $284,000 202,000 263,000 202,000 243,000 161,000 250,000 123,000 102,000 89,000 89,000 L's 8 The estimated residual value of the processing mill at the end of Year 4 is $280,000. Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.690 0.826 0.797 0.756 0.694 0.040 0.751 0,712) 0.650 0.579