Estimate the Year $1$ operating cash flow for a project using the data given below.

Sales revenue: $$90,000$

Depreciation: $$12,000$

Operating costs $($excluding depreciation$)$: $$33,000$

Interest expense: $$12,000$

Tax rate: $21\mathrm{.}0\%$

Question $32$ options:

$$45,000$

$$38,070$

$$35,550$

$$47,550$