Eric and Chelsea sign a contract where Eric will sell his used car to Chelsea for $400. That night, Chelsea's parents surprise her with a new car. Chelsea's friend, Andrea, needs a new car. Andrea, Chelsea and Eric sit down the next day and cross off Chelsea's name on the contract and write in Andrea's name. All three of the parties initial the changes. This is:a. a satisfaction.
b. an accord.
c. a novation.
d. a rescission.

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.)