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 1 cash flow? a. $20,525 b. $35,000 c. $28,000 d. $26,250 e. $34,583