At the beginning of the current period, kingbird corp. had balances in accounts receivable of $211,000 and in allowance for doubtful accounts of $8,910 (credit). during the period, it had net credit sales of $777,300 and collections of $764,980. it wrote off as uncollectible accounts receivable of $8,009. however, a $2,977 account previously written off as uncollectible was recovered before the end of the current period. uncollectible accounts are estimated to total $23,630 at the end of the period. (omit cost of goods sold entries.)

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.)