Fruity Fruits Ltd. currently sells $25 million annually of apple juice in 1 litre containers and $10 million of individually packaged dried fruit snacks. The company wants to intro- duce a 230 mL single-serving cranberry-apple juice product next year. A $200,000 feasibility study just completed estimated yearly sales of $12 million for the new juice. The study also forecast that sales of the company's existing apple juice would fall by $2 mil- lion as some existing customers would switch to the new beverage; however, sales of the snack product would increase by 10% due its complementary nature to the new product. The company has unused land it can use, which was purchased two years ago for $500,000. That land could currently be sold for $700,000. Building and equipment costs for the new project are $1,000,000. What is the initial investment and first-year cash inflow for this project?