Radio tower M₂ is located 200 miles due west of radio tower M₁. The situation is illustrated in the figure shown, where a coordinate system has been superimposed. Simultaneous radio signals are sent from each tower to a ship, with the signal from M₂ received 500 microseconds before the signal from M₁. Assuming that radio signals travel at 0.186 mile per microsecond, determine the equation of the hyperbola on which the ship is located.

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M₂ (-100, 0) P y 200 miles →→ M₁ (100, 0) X