Gold Creek Mining Company has two competing proposals a processing mill and an electric shovel. Both pieces of equipment have an initial investment of $443.356. 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 $180,000. 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. Processing Hall Electric Shovel Present value of net cash flow total $ _______ $ _______ Less amount to be invested $ _______ $ _______ Net present value $ _______ $ _______