Hello could you please help me with this question

The industrial company Efficar is considering expanding its current product line by manufacturing a new product for which it would benefit from a growing market. This would require investment in new production equipment, with a life span of 3 years. The machine would cost 30 000 and would be amortized linearly. It would be purchased at the beginning of January N for immediate start-up.

The sales forecast for the new product in year N is 2,100 units at a selling price of 23. The sales of the product should then increase by 10% in N+1 at a constant selling price and then by 15% in N+2 following a 10% reduction in the selling price.

A stock of the finished product should be constituted during the first year in order to represent at the end of N 100 units of the product, valued at a standard production cost of 20 each. This stock would then be maintained at the same level during the 2 following years.

The variable unit cost of production corresponds to the consumption of raw materials and is forecast at 10 for the 3 years. At the beginning of N, the company plans to build up a stock of raw materials corresponding to half a month of consumption. It then wishes to maintain in N+1 and N+2 a safety stock corresponding to 0.5 months of consumption. The purchase costs of raw materials are considered negligible and, therefore, the purchase cost of raw materials corresponds to their purchase price.

The fixed production costs (excluding depreciation) will represent 11,000 in N. They correspond to the personnel costs (salary and charges) of a worker devoting the equivalent of 40% of an FTE to managing the production process of the new product, which will be largely automated. The company believes that the experience effect of the worker will then allow it to gain enough productivity to absorb the expected increase in production volumes for N+1 and N+2. Moreover, the company applies a salary policy consisting in particular in increasing by 2% per year all salaries generating less than 30 000 of personnel costs per year.

It is considered that the company would not have any other additional expenses to bear following the creation of the product.

The income tax rate is 30%.

The company wants to be able to pay dividends to its shareholders each spring equal to half of its profit after tax for the year ended December 31.

The new product would require having an average of one month's sales including VAT (with a VAT rate of 20%) of outstanding customers, and an average of one month's purchases including VAT of raw materials (also with a VAT rate of 20%) of outstanding suppliers.

Calculate the annual cash flow that would result from this new activity, over the life of the proposed investment and before taking into account any type of financing.