lic excavator. Both pleces of equipment have an intital investment of $478,526. 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 $180,000. Prosent value if 4t at Cenpound tonteriet \begin{tabular}{|c|c|c|c|c|c|} \hline vear & en & ats & 120 & ust & 20 \\ \hline 1 & 6.043 & anos & Q.m & 0.570 & Ansis \\ \hline z & 0.250 & 626 & & a. 796 & 0.694 \\ \hline 3 & Iine & a.rsi & anz & e.sse & 0.578 \\ \hline 4 & & 0ks & o.4n & 0.5n & 0.437 \\ \hline 1 & 0.747 & & Dse? & & 0.402 \\ \hline 6 & dises & Q.24 & 0.507 & 0.432 & 0.335 \\ \hline 7 & enss & ess & 0.42 & 0.3N & 0.270 \\ \hline & & a ext & 0.454 & 0.327 & \\ \hline * & & a 424 & 0.362 & 2.2s4 & e.104 \\ \hline as & esu & 2386 & Q12: & 0.269 & 0.162 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline & Diement Carv Dril & Mrdrasic txcavater \\ \hline Prent volue of net quh fire tata & & 2 \\ \hline & & \\ \hline Me posant will & 5 & 4 \\ \hline \end{tabular}