Pandora Technologies, Inc. is considering an expansion to its operations. The firm's financial analysts have prepared the following estimates of various operating items for the first year of the project. All of these items are incremental amounts. If the firm faces a marginal tax rate of 40%, what is the net operating cash flow for the first year of the project? Year 1 Estimate 650,000 Sales Revenue Variable Costs Fixed Costs 225,000 130,000 Depreciation Expense 95,000 Select one: a. $ 120,000 b. $ 190,200 c. $ 272,000 d. $215,000 e, none of the above