Delicious Snacks, Inc. is considering adding a new line of candies to its current product line.. The new line will require an increase in the working capital investment of $70,000 to produce the candies. The project's life is 6 years and the firm estimates sales of 1,500,000 packages at a price of $1 per unit the first year; but this volume is expected to grow at 17% for the next two years, 12% for the following two years, and finally at 7% for the last year of the project. The price per unit is expected to grow each year at the historical average rate of inflation of 3%. The variable costs will be 70% of sales and the fixed operating costs will be $500,000. The equipment required to produce the candies will cost $900,000, and will require an additional $30,000 to have it delivered and installed. This equipment has an expected useful life of 7 years and will be depreciated using the MACRS 5-year class life. After 6 years, the equipment can be sold at a price of $200,000. The cost of capital is 9% and the firm's marginal tax rate is 35%.

a. Forecast the annual after-tax operating cash flows for each year. (Note: You do not need to calculate the Terminal Value)