Net Present Value-Unequal Lives Bunker Hill Mining Company has two competing proposals: a processing mill and an electric shovel. Both pieces of equipment have an initial investment of $699,179. The net cash flows estimated for the two proposals are as follows: Net Cash Flow Year Processing Mill Electric Shovel 1 $213,000 $266,000 2 190,000 247,000 3 190,000 228,000 4 151,000 234,000 5 115,000 6 96,000 7 83,000 00 8 83,000