Your company, CSUS Inc., is considering a new project whose data are shown below. The required equipment has a 4-year tax life. Under the new law, the equipment used in the project is eligible for 100% bonus depreciation, so the equipment will be fully depreciated at t = 0. The equipment has $2,114 salvage value at the end of the projects life, and the project does not require any additional operating working capital. What is the project's Year 4 cash flow?

Equipment cost	$70,000
Sales revenues, each year	$38,500
Operating costs	$25,000
Tax rate	25.0%