A beauty product company is developing a new fragrance named Happy Forever. There is a probability of 0:51 that consumers will love Happy Forever, and in this case, annual sales will be 1.05 million bottles: a probability of 0.36 that consumers will find the smell acceptable and annual sales will be 175,000 bottles; and a probability of 0.13 that consumers will find the smell unpleasant and annual sales will be only 51,000 bottles. The selling price is $37, and the variable cost is $8 per bottle. Fixed production costs will be $1.01 million per year, and depreciation will be $1.15 million. Assume that the marginal tax rate is 40 percent. What are the expected annual incremental after-tax free cash flows from the new fragrance? Annual incremental cash flows $