Vandelay Industries is considering a new project with a 10-year life with the following cost and revenue data. This project will require an investment of $130,000 in new equipment. This new equipment will be depreciated down to zero over 10 years using the simplified straight-line method and has no salvage value. This new project will generate additional sales revenue of $152,000 while additional operating costs, excluding depreciation, will be $69,000. Vandelay's marginal tax rate is 33 percent. What is the project's free cash flow in year 1?