Net present value-unequal lives Bunker Hill Mining Company has two competing proposals: a processing m and an electric shovel. Both pieces of equipment have an initial investment $710,000. The net cash flows estimated for the two proposals are as follow: Net Cash Flow Year Processing Mill Electric Shovel 1 $312,000 $335,000 2 265,000 320,000 265,000 311,000 270,000 313,000 I 5 No 174,000 123,000 139,000 00 139,000 The estimated residual value of the processing mill at the end of Year 4 is $270,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. 6 123,000 7 139,000 8 139,000 The estimated residual value of the processing mill at the end of Year 4 is $270,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine which equipment should be favored, comparing the net present values of the two proposals and assuming a minimum rate of return of 12%. If required, round to the nearest dollar. Processing Mill Electric Shovel Net present value 311,941 X 974,695 x Which project should be favored? Processing Min