Calculating 'cash flows over the life'

Birdseye Corporation $($BIRD$)$ is considering whether to replace its old chicken cutting machine with a new one that costs $$320,000$ immediately. Inghams Company will buy the old cutting machine today for $$80,000.$

The new cutting machine is able to reduce annual operating expenses by $$90,000$ each year from $$450,000.$ BIRD will raise $$133,000$ through a private placement to partly fund the machine.

Last month, BIRD paid $$3,400$ in consulting fees for advising on the decision to purchase a new cutting machine.

The old cutting machine was generating sales of $$500,000$ annually. The old cutting machine was incurring depreciation expenses of $$10,000$ per year, and has $20$ years left until it reaches the end of its useful life.

The new cutting machine will generate yearly sales which are $15\%$ higher when compared to the sales generated by the old machine.

This new cutting machine has a $20-$year life for tax purposes. Assume the company tax rate is $30\%.$

What are the 'cash flows over the life'?

$[$Describe and list separately each cash flow and the corresponding amount on a new line, as in lecture and tutorial examples.$]$

$[$Provide the Cash flows over the life for one year only because the cash flows are the same during each year of the project's life$].$

$[$Where applicable, show as much working out as possible, otherwise you may be penalised$].$