present value-unequal lives Dakota Mining Company has two competing proposats: a diamond core drill or a hydraulic excavatoc Both pieces of equipment have an initial investment of $772,748, 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 $310,000. Determine which ectuipment should be favored, comparing the net present values of the two proposals and assuming a minimum rate of return of 12 . Usis the present value table appearing above