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Net present value-unequal lives Dakota Mining Company has two competing proposals: a diamond core drill...

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Accounting

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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 $678,046. 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 $290,000. Determine which equipment should be favored, comparing the net present values of the two proposals and assuming a minimum rate of return of 15%. Use the present value table appearing above

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