1. What are the following project's operating cash flows for year 1: Sales: $10,000 All costs excluding depreciation: 20% of sales Annual depreciation expense: $3,000 Tax rate: 21% Purchase price of asset: $2,200 Current assets: $1,000 Current liabilities: $700 A B C D $4,200 $6,200 $6,218 $6,850 None of the above 2. Calculate initial investment, using the above data. A B $2,200 $2,500 $3,400 $6,400 None of the above D E