Calculating 'cash flows over the life'

The following information relates to TMB Corporation (TMB):

TMB is evaluating whether to replace its old production machine with a new one that costs $390,000 and has a six-year life for tax purposes. TMB will borrow $300,000 to fund the new machine. Annual debt repayments are $22,000. Four months ago, TMB paid $9,000 for a consulting report from AKL Consultants, investigating the cost savings associated with the new machine. The new production machine is more efficient and will reduce annual operating expenses by $39,500 each year from $129,000. TMB will sell its old production machine for $45,000 and this old machine is being depreciated at $11,000 per year over its remaining six-year life. The old machine produces revenue of $190,000 per annum. Cash sales associated with the new machine are predicted to be $310,000 per annum. Assume the company tax rate is 30%.

What are the 'cash flows over the life'?

[Describe and list each cash flow and the corresponding amount on a new line separately, 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].

[You must show your working out, otherwise, you will be penalised].