Daily Enterprises is purchasing a

$9.9

million machine. It will cost

$51,000

to transport and install the machine. The machine has a depreciable life of five years using straight-line depreciation and will have no salvage value. The machine will generate incremental revenues of

$4.1

million per year along with incremental costs of

$1.2

million per year. Daily's marginal tax rate is

21%.

You are forecasting incremental free cash flows for Daily Enterprises. What are the incremental free cash flows associated with the new machine?