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, and it will be depreciated by the straight-line method over 3 years. Revenues and other operating costs are expected to be constant over the project's 3-year life. What is the project's Year 1 cash flow? Do not round the intermediate calculations and round the final answer to the nearest whole number.

Equipment cost (depreciable basis)	$94,000
Straight-line depreciation rate	33.333%
Sales revenues, each year	$60,000
Operating costs (excl. depr.)	$25,000
Tax rate	35.0%

Group of answer choices

$33,042

$28,996

$26,299

$33,717

$36,414