The Hanna Company uses straightminusline depreciation and is considering a capital expenditure of which the following relevant cash flow data have been estimated: Estimated useful life: 3 years Initial investment: $500,000 Savings year 1: $210,000 Savings year 2: $150,000 Savings year 3: $225,000 Residual value after 3 yrs $50,000 Total operating income from the asset over the 3minusyear period is