Question: Wright Communications is trying to estimate the first-year operating cash flow for a proposed project. The financial staff has collected the following information: Financial Item:
Wright Communications is trying to estimate the first-year operating cash flow for a proposed project. The financial staff has collected the following information:
| Financial Item: | |
|---|---|
| Projected Sales | $20.90 million |
| Expenses | $17.00 million |
| Depreciation | $6.00 million |
| Interest Expense | $3.00 million |
The company faces a 40.00 percent tax rate. What is the projects operating cash flow for year 1? (answer in units of millions)
Answer Format: Currency: Round to: 2 decimal places.
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