Michael Corleone is looking at a project that will require $80,000 in fixed assets and another $20,000 in net working capital. The project is expected to produce sales of $110,000 with associated costs of $70,000. The project has a 4 year life. The company uses straight-line depreciation to a zero book value over the life of the project. The tax rate 35%. What is the annual operating cash flow for this project? $40,000 $33,000 $13,000 $7,000