Nature's Way Inc. is planning to invest in new manufacturing equipment to make a new garden tool. The new garden tool is expected to generate additional annual sales of 2,500 units at $60 each. The new manufacturing equipment will cost $227,000 and is expected to have a 10-year life and $17,000 residual value. Selling expenses related to the new product are expected to be 5% of sales revenue. The cost to manufacture the product includes the following on a per-unit basis:

Direct labor........................................................... $ 8.00

Direct materials...................................................... 22.00

Fixed factory overhead-depreciation............................ 8.40

Variable factory overhead........................................... 3.60

Total.................................................................... $42.00

Determine the net cash flows for the first year of the project, Years 2-9, and for the last year of the project.