AfroMine is planning to invest in a mining project that would involve purchasing equipment costing R75 million. The new equipment would be depreciated over a 10-year period on a straight-line basis to a net book value of R10million. The mining project would produce pretax cash flow of R20 million per year for 10 years. AfroMine estimates that the project would involve additional start-up costs amounting to R8 million. Of this amount, R6 million would be capitalized in the same way as the equipment, and the remaining R2 million would be expensed immediately. The project would also require an investment in net working capital of R5 million. Finally, it is expected that, at the end of 10 years, the project will require R650,000 of removal and clean-up costs. AfroMine estimates a marginal tax rate of 30% for the project. AfroMine estimates a marginal tax rate of 30% for the project.

Based on information given above, calculate (1) The net initial investment (2) Net operating cash flows (3) The net salvage value (4) Incremental cash flows over life of the project divided into three categories as cash flow in Year 0, years 1-9, and Year 10.