Dakota Mining Company has two competing proposals: a diamond core drill or a hydraulic excavator, Both pieces of equipment have an initial investment of $790, 000 . The net cash flows estimated for the two proposals are as follows: The estimated residual value of the diamond core drill at the end of Year 4 is $290,000. This information has been collected in the Microsoft Excel Online fie. Open the spreadsheet, perform the required analysis, and input your answers in the questions belor Open spreadsheet Determine which equipment should be favored, comparing the net present values of the two proposals and assuming a minimum rate of retum of 64 . If required, round to the nearest dollar