Net Present Value-Unequal Lives Mulkey Development Company has two competing projects: an electric shovel and a processing mill. Both projects have an initial investment of $708,651. The net cash flows estimated for the two projects are as follows: Net Cash Flow Year Electric Shovel Processing Mill 1 $243,000 $316,000 2 216,000 282,000 3 216,000 260,000 4 173,000 267,000 5 131,000 6 109,000 7 95,000 8 95,000 The estimated residual value of the electric shovel at the end of Year 4 is $300,000. 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 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 Previous Nex