Elmdale Enterprises is deciding whether to expand its production facilities. Although long-term cash flows are difficult to estimate, management has projected the following cash flows for the first two years (in millions of dollars):

Yr 1 Yr 2

• Revenues 125 160
• COGS and operating exp other than depr 40 60
• Depreciation 25 36
• Increase in net working capital 5 8
• Capital expenditures 30 40
• Marginal corporate tax rate 35% 35%

What are the total cash flow for this project for the first two years?