McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $920 per set and have a variable cost of 5451 per set. The company has spent $250,000 for a marketing study that determined the company will sell 85,000 sets per year for seven years. The marketing study also determined that the company will lose sales of 8,850 sets per year of its high-priced clubs. The high-priced clubs sell at $1,350 and have variable costs of $670. The compary will aiso increase sales of its cheap clubs by ft 300 sets per year The cheap clubs sell for $360 and have variable costs of $156 per set. The fixed costs each year will be $14.850.000. The company has also spent $2,000.000 on research and development for the new clubs. The plant and equipment required will cost $49,200,000 and will be depreciated on a straight-line basis. The new clubs will also tequite an increase in net working capital of $3.875.000 that will be returned at the end of the project. The tax tate is 25 percent, and the cost of capilat is 12 percent. Calculate the Time 0 cash flow. Note: Enter your answer as a positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32. Construct the pro forma income statement. Note: Do not round intermediate calculations and round your anewers to the nesrest whole number, e.9. 32