Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $480,000 cost with an expected four-year life and a $20,000 salvage value. All sales are for cash, and all costs are out-of-pocket, except for depreciation on the new machine Additional information includes the following. (FV of $1, PV of $1, FVA of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.) $1,840,000 Expected annual sales of new product Expected annual costs of new product Direct materials Direct labor Overhead (excluding straight-line depreciation on new machine) Selling and administrative expenses Income taxes 480,000 672,000 336,000 160,000 30% Required 1. Compute straight-line depreciation for each year of this new machine's life. 115,000 2. Determine expected net income and net cash flow for each year of this machine's life pected Net Income Revenues Expenses pected Net Cash Flow