The finance team of an automobile company is drafting budget for succeeding year. Arrange the steps in preparing a budget. team computes annual expenses such as electricity bills, wages and taxes.

all departments submit yearly estimated expenses.

team prioritizes purchase of new machinery for improved production.

team dedicates some funds for emergency. submits report of estimated income and expense data.

estimates fund needed for yearly bonus and employee training.

Quick computing currently sells 12 million computer chips each year at a price of $19 per chip. it is about to introduce a new chip, and it forecasts annual sales of 22 million of these improved chips at a price of $24 each. however, demand for the old chip will decrease, and sales of the old chip are expected to fall to 6 million per year. the old chips cost $10 each to manufacture, and the new ones will cost $14 each. what is the proper cash flow to use to evaluate the present value of the introduction of the new chip? (enter your answer in millions.)