Bunker Hill Mining Company has two competing proposais: a processing mill and an electric shovel. Both pieces of equipment have an inkial investment of s904, 707 . 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 $360,000. Determine which equipment should be favored, comparing the net present values of the two proposals and assuming a minimum rate of return of 12%. Uie the present value table appearing above