a Fool Proof Software is considering a new project whose data are shown below. The equipment that would be used has a 3-year tax life, and the allowed depreciation rates for such property are 33.0%, 45.0%, 15.0%, and 7.0% for Years 1 through 4. Under the new tax law, the equipment used in the project is eligible for 100% bonus depreciation, so it will be fully depreciated at two. Revenues and other operating costs are expected to be constant over the project's 10-year expected life. What is the Year 1 cash flow? Equipment cost $55,000 Sales revenues, each year $80,000 Operating costs $24,500 25.0% @ a, 555,500 b. 559.775 Tax rate c. $42,588 O d. $46,163 e. $41,625