Dakota Mining Company has two competing proposals: a diamond core drill or a hydraulic excavator, Both pieces of equipment have an initial investment of $899,811. 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 $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%. Use the present value table appearing above