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 $480,977. The net cash flows estimated for the two proposals are as follows: Net Cash Flow Year Electric Shovel 1 Processing Mill $154,000 137,000 137,000 $193,000 2 179,000 3 4 165,000 169,000 5