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%

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%

$28,996

$36,414

$26,299

$33,042

$33,717