Exhibit 9-2 The following data are projected for a possible investment project: 4 Revenues Cost of Goods Sold 1 $140,000 $ 36,000 $ 70,000 $ 34.000 2 $160,000 $ 42,000 $ 50,000 $ 68,000 3 $180,000 $ 48,000 $ 30,000 $ 102,000 $200,000 $ 54,000 $ 10.000 $136.000 Depreciation EBIT Refer to Exhibit 9-2. The project requires an initial investment of $350,000. Working capital is anticipated to be variable at 12% of revenues; the working capital investment must be made at the beginning of each period, and will be recaptured in full at the end of year 4. Therefore, the change in NOWC for Years 0, 1, 2, and 3 are:-16800, -2400, -2400-2400. The tax rate is 34%. What is the net cash flow to the firm in year 1? $90,040 $60,400 O $6,400 $500 O $92,040