Ten years ago, cary company issued $1,500,000 of 7 percent, 10-year bonds at a price of 95. on the maturity date of january 2, after making the final interest payment and recording the related entry, cary retired the bonds. complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.

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.)