You are the financial manager of this company. The company is considering a replacement project for an aged automated machine. This machine was purchased 6-years go and and originally cost $200,000. It had a useful life of 12-years and is being depreciated on a straight line basis. A new replacement would cost $660,000 and would require an additional $40,000 in net working capital (recovered at the end of year 6). It would be depreciated straight-line over the next 6 years. The new machine will increase operating revenue by $100,000 per year for the next 6 years. The existing machine has a current market price $120,000. The new machine is expected to have a salvage value of $50,000 at the end of 6 years. The relevant tax rate is 30%

Calculate the initial outlay, ongoing cash flows and terminal cash flow of this replacement decision.