A manufacturer is considering venturing into the golf club manufacturing business with a new driver golf club. Your job is to determine if the company should create this new driver golf club or not. Regarding the costs at t=0 (today), the machinery to create the golf club would cost $2,000,000. It would cost $50,000 to install the machinery and inventories would increase by $100,000. The machinery is expected to last ten years and would be depreciated with straight-line depreciation. The project is expected to last ten years when the project would be ended. The project's cash inflows are expected at begin at t=1 (that is, year 1) and continue through t=10 (year 10). At t=10, the machinery is anticipated to have a salvage value of $40,000. The company expects to sell 500 golf clubs per year at an anticipated price of $500 per golf club. Operating costs, excluding depreciation, are anticipated to be 75% of sales each year. The project's cost of capital is 12% and the firm's tax rate is 35%. Determine the project's cash flows for years t=0 to t=10. Please use Excel to estimate the project's cash flows.