11. Champlain Transportation Inc. is considering a five-year project that requires an initial capital investment of $1 million. The project is expected to generate operating revenue of $500,000 per year, and the associated operating expenses are estimated at $250,000 per year. The capital asset belongs to asset class 9, which has a CCA rate of 30 percent. The firms tax rate is 35 percent. What is the after-tax cash flow for year 1?

a. $110,000

b. $215,000

c. $302,500

d. $312,500