Calculating 'cash flows over the life'

Raspberry Corporation (RASP) is evaluating replacing its old bread making machine with a new bread making machine. The new bread making machine costs $250,000 immediately, and has an effective life of 20 years according to the tax office. A competitor will purchase the old bread machine immediately for $120,000.

The new bread making machine is expected to increase RASPs total yearly sales from $500,000 to $550,000. Due to operating efficiencies, the new bread making machine is expected to reduce RASPs yearly operating costs by $80,000 from $300,000.

For internal management reports, the new bread making machine will be depreciated using a 12-year useful life. RASP will borrow money to fund the purchase of the new machine, where annual principal and interest payments equate to $30,000.

The old bread making machine incurs annual depreciation of $12,000, and has 20 years until it is fully depreciated. Assume the company tax rate is 30%.

What are the 'cash flows over the life'?