Net Present Value-Unequal Lives Healey Development Company has two competing projects: an electric shovel and a processing mill. Both projects have an initial investment of $636,368. The net cash flows estimated for the two projects are as follows Net Cash Flow Year Electric Shovel Processing Mill $218,000 194,000 194,000 155,000 118,000 98,000 85,000 85,000 $273,000 253,000 233,000 240,000 4 6 The estimated residual value of the electric shovel at the end of Year 4 is $270,000 Present Value of $1 at Compound Interest 12% 0.893 0.797 0.712 0.636 0.567 15% 0.870 0.756 0.658 0.572 0.497 20% 0.833 0.694 0.579 0.482 0.402 696 10% 0.909 0.890 0.826 0.840 0.751 0.683 0.621 Year 0.943 0.792 0.747