Planet Enterprises is purchasing a

$10.3 million machine. It will cost

$48 000 to transport and install the machine. The machine has a depreciable life of five years using straight-line depreciation and will have no salvage value. The machine will generate incremental revenues of

$4.3 million per year along with incremental costs of

$1.2 million per year. Planet's marginal tax rate is

30%. You are forecasting incremental free cash flows for Daily Enterprises. What are the incremental free cash flows associated with the new machine?

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Part 1

The free cash flow for year 0 will be $

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. (Round to the nearest dollar.)