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-o. 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? Equipment cost (depreciable basis) Sales revenues, each year Operating costs Tax rate $100,000 $56,900 $25,500 25.0%