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Problem 9-1 Cash Flows (LO1) Quick Computing currently sells 16 million computer chips each year at a price of $24 per chip. It is about

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Problem 9-1 Cash Flows (LO1) Quick Computing currently sells 16 million computer chips each year at a price of $24 per chip. It is about to introduce a new chip, and it forecasts annual sales of 17 million of these improved chips at a price of $30 each. However, demand for the old chip will decrease, and sales of the old chip are expected to fall to 5 million per year. The old chips cost $9 each to manufacture, and the new ones will cost $12 each. What is the proper cash flow to use to evaluate the present value of the introduction of the new chip? (Enter your answer in millions.) Answer is complete but not entirely correct Cash flow $ 177 million

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