5. Clemson Software is considering a new project whose data are shown below. The required equipment has a 3-year tax life, after which it will be worthless. Under the new tax law, the equipment is eligible for 100% bonus depreciation, so it will be fully depreciated at t -0. Revenues and operating costs are expected to be constant over the project's 3-year life. What is the project's Year I cash flow? Do not round the intermediate calculations and round the final answer to the nearest whole number. Equipment cost (depreciable basis) $100,000 Sales revenues, each year $60,000 Operating costs (excl. depr.) $25,000 Tax rate 25.0% 1. $32,008 b. $29,598 c. $26,250 d. $33,040 e. $28,222