The R&D department of MOC company has spent $120 million on a microprocessor technology and development have now reached the stage where a decision must be made about whether or not to go forward with full scale production. The engineering department has reported that the firm would need additional manufacturing capacity and equipment of $13 million, estimated one year of the installation and test run before coming to market, then the investment of $6 million in net operating working capital is needed. The marketing department also has forecasted the followings:Annual Sales20,000 unitsPrice$3000 per unitVariable manufacturing cost $2100 per unitFixed overhead cost (excluding depreciation)$8 million per yearEstimated economic life4 yearsAssuming straight-line depreciation is applicable to additional manufacturing capacity and equipment, which would have scrap value of $3 million at the end of five years when working capital will be recovered. Corporate tax is 25%.Determine the net cash flows for each year of the project’s life.