Highland Mining and Minerals Company is considering the purchase of two gold mines. Only one investment will be made. The Australian gold mine will cost $$1,630,000$ and will produce $$342,000$ per year in years $5$ through $15$ and $$537,000$ per year in years $16$ through $25.$ The U$.$S$.$ gold mine will cost $$2,054,000$ and will produce $$295,000$ per year for the next $25$ years. The cost of capital is $8$ percent. Use Appendix D for an approximate answer but calculate your final answers using the formula and financial calculator methods. $($Note: In looking up present value factors for this problem, you need to work with the concept of a deferred annuity for the Australian mine. The returns in years $5$ through $15$ actually represent $11$ years; the returns in years $16$ through $25$ represent $10$ years.$)$

a$-1.$ Calculate the net present value for each project