Net Present Value-Unequal Lives Dakota Mining Company has two competing proposals: a diamond core drill or a hydraulic excavator. Both pleces of equipment have an initial investment of $710,000. 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 $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. The estimated residual value of the diamond core drill 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 10%. If required, round to the nearest dollar. Which project should be favored? Facdback Check My Work For each proposal, multiply the present value factor for each year (Exhibid 2) by that year's net cash flow. Use the residual value of that Processing Mill to equate the useful Ives (Exhibit 2). Subtract the amount to bo invested from the total present value of the net castiflow