Mandalay Industries is considering a new project with a 4-year life with the following cost and revenue data. This project will require an investment of \($145,000\) in new equipment. This new equipment will be depreciated down to zero over 4 years using the simplified straight-line method and has no salvage value. This new project will generate additional sales revenue of \($110,000,\) whereas additional operating costs, excluding depreciation, will be \($65,000.\) Mandalay’s marginal tax rate is 18 percent. What is the project’s free cash flow in year 1?