Kauai Tools Inc. is planning to invest in new manufacturing equipment to make a new garden tool. The new garden tool is expected to generate additional annual sales of 9,200 units at $40 each. The new manufacturing equipment will cost $149,500 and is expected to have a 10-year life and a $11,500 residual value. Selling expenses related to the new product are expected to be 5% of sales revenue. The cost to manufacture the product includes the following on a per-unit basis:

Line Item Description	Cost
Direct labor	$6.80
Direct materials	22.30
Fixed factory overheaddepreciation	1.50
Variable factory overhead	3.40
Total	$34.00

Determine the net cash flows for the first year of the project, Years 29, and for the last year of the project. Use the minus sign to indicate cash outflows. Do not round your intermediate calculations but, if required, round your final answers to the nearest dollar.

Line Item Description	Year 1	Years 2-9	Last Year
Initial investment	$Initial investment
Operating cash flows:
Annual revenues	$Annual revenues	$Annual revenues	$Annual revenues
Selling expenses	Selling expenses	Selling expenses	Selling expenses
Cost to manufacture	Cost to manufacture	Cost to manufacture	Cost to manufacture
Net operating cash flows	$Net operating cash flows	$Net operating cash flows	$Net operating cash flows
Total for Year 1	$Total for Year 1
Total for Years 29 (operating cash flow)		$Total for Years 29 (operating cash flow)
Residual value			Residual value
Total for last year			$Total for last year

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For Year 1, subtract the amount to be invested from the operating cash flows (annual revenues less selling expenses less cost to manufacture). For Years 2-10, subtract the selling expenses and the costs to manufacture from the annual revenues. For Year 10 only, add the residual value.