Swedish Medical is evaluating the purchase of a new diagnostic equipment, which costs $1,200,000, has an expected life of five years, and an estimated pretax salvage value of $400,000. It is expected to generate $600,000 in its first year of use. In the same year operating expenses without depreciation are expected to be $270,000. The hospital's tax rate is 25 percent. The equipment falls into the MACRS five-year class for tax depreciation, given in the following table:

Year	Allowance
1	0.20
2	0.32
3	0.19
4	0.12
5	0.11
6	0.06

Estimate Swedish's Year 1 net cash flow.