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. $97,000 Equipment cost (depreciable basis) 33.333% Straight-line depreciation rate Sales revenues, each year $60,000 Operating costs (excl. depr.) $25,000 35.0% Tax rate a. $34,067 b. $31,682 c. $30,660 d. $36,792 e. $29,979