14. The Xyz Corporation is a 100% equity firm. It expects to have sales of $20 million this year. Costs other than depreciation are expected to be 80% of sales, and depreciation is expected to amount to $1.5 million. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. If Xyz's federal-plus-state tax rate is 40%, what is Xyz's expected cash flow from operations? (Assume no other changes occurred.)