Problem $6-21$ Calculating Nominal Cash Flow

Shado, Incorporated, is considering an investment of $$453,000$ in an asset with an

economic life of five years. The firm estimates that the nominal annual cash revenues

and expenses at the end of the first year will be $$291,200$ and $$90,600,$ respectively.

Both revenues and expenses will grow thereafter at the annual inflation rate of $3$

percent. The company will use the straight$-$line method to depreciate its asset to zero

over five years. The salvage value of the asset is estimated to be $$73,000$ in nominal

terms at that time. The one$-$time net working capital investment of $$24,000$ is required

immediately and will be recovered at the end of the project. The corporate tax rate is $23$

percent. What is the project's total nominal cash flow from assets for each year? $($A

negative amount should be indicated by a minus sign. Do not round intermediate

calculations and round your answers to the nearest whole number, e$.$g$.,32.)$

Answer is complete but not entirely correct.