Use the financial statement effects template (with amounts and accounts) to record the following transactions involving investments in marketable securities accounted for using the equity method.

a. purchased 12,000 common shares of Bakersfield Co. at $9 per share; the shares represent 30% ownership in Bakersfield
b. received a cash dividend of $1.25 per common share from Bakersfield
c. Bakersfield reported annual net income of $60,000
d. sold all 12,000 common shares of Bakersfield for $114,500

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.)