22 A firm is considering a project with the following information Project will require purchase of a machine for $99,232.00 that is MACRS depreciable over a five-year schedule. (no depreciation until end of year 1) Project will require immediate non-depreciable expenses of $28.134.00 TODAY (year o) Project will have the following projected balance sheet values of NWC YEAR 0 1 2 NWC Level $4,000 10.00% of sales 900% of sales Sales for the project will be $47,575.00 per year with all other expenses (excluding depreciation) at 45.00% of sales The tax rate for the firm is 39.00%, while the cost of capital is 14.00% "assume project goes beyond two years What is the project's cash flow for year 1? Submit Answer format: Currency: Round to: 2 decimal places