Determine Cash Flows Marigold Inc. is planning to invest in new manufacturing equipment to make a new garden tool. The garden tool is expected to generate additional annual sales of 2,400 units at $80 each. The new manufacturing equipment will cost $411,200 and is expected to have a 10-year life and $27,000 residual value. Selling expenses related to the new product are expected to be 5% of sales revenue. The cost to manufacture the product indudes the following on a per-unit basis: Direct labor $19 Direct materials 48 24 Fixed factory overhead depreciation Variable factory overhead 7 Total $98 Determine the net cash flows for the first year of the project, Years 2-9, and for the last year of the project. Use a minus sign to indicate cash outflows, Maland Marigold Inc. Net Cash Flows Year 1 Years 2-9 Last Year Initial investment Operating cash flows: Annual revenues Selling expenses Cost to manufacture Net operating cash flows $ Total for Year 1 Total for Years 2-9 Residual value Total for last year