Calculating 'cash flows over the life'

Melon Corporation is considering whether to replace its old chip making machine with a new one that costs $320,000 immediately. Melon Corporation will borrow $100,000 to partly fund the machine.

A competitor has agreed to buy the old chip making machine immediately for $80,000. Two months ago, Melon Corporation paid Big Consulting Group $4,000 in consulting fees for advising on the decision to purchase a new chip making machine.

The anticipated annual sales that the new chip making machine will generate will be 15% higher when compared to the sales generated by the old chip making machine. The old chip making machine was generating sales of $500,000 annually, incurring annual depreciation expenses of $10,000, and has 20 years left until it reaches the end of its useful life.

This new chip making machine has a 20-year life for tax purposes, and is able to reduce annual operating expenses by $90,000 each year from $300,000. Assume the company tax rate is 30%.

What are the 'cash flows over the life'?