The Best Manufacturing Company is considering a new investment. Financial projections for the investment are tabulated here. The corporate tax rate is 32 percent. Assume all sales revenue is received in cash, all operating costs and income taxes are paid in cash, and all cash flows occur at the end of the year. All net working capital is recovered at the end of the project.

Year 0 Year 1 Year 2 Year 3 Year 4

Investment $ 11,500

Sales revenue $ 8,800 $ 9,900 $ 10,200 $ 7,600

Operating costs 1,500 1,500 1,500 1,500

Depreciation 2,875 2,875 2,875 2,875

Net working capital spending

290 340 390 290 ?

Compute the incremental cash flows of the investment for each year