Maximum, Inc. is considering a new six-year expansion project that requires an initial fixed asset Investment of $100,000. The fixed assets will be depreciated using the 5-year MACRS class. The project is estimated to generate $150,000 in annual sales, with costs of $80,000. If the tax rate is 35% and the company uses a discount rate of 10%, what are the operating cash flows for this project in year 1? The company's tax rate is 35%. The company's tax shield benefits due to incremental depreciation for year 1 is $ (Omit the dollar sign and commas) Year Depreciation on New Equipment Depreciation on old equipment 33,300 11,840 2 44,500 5,920 3 14,800 11 4 17,400