Assume that a new project will annually generate revenues of $2,400,000 and cash expenses (including both fixed

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Question:

Assume that a new project will annually generate revenues of $2,400,000 and cash expenses (including both fixed and variable costs) of $500,000, while increasing depreciation by $210,000 per year. In addition, the firm's tax rate is 33 percent. Calculate the operating cash flows for the new project.

The firm's operating cash flows are $0. (Round to the nearest dollar.)