A 9-year project is expected to provide annual sales of $225,000 with costs of $98,000. The equipment necessary for the project will cost $365,000 and will be depreciated on a straight-line method over the life of the project. You feel that both sales and costs are accurate to +/10 percent. The tax rate is 21 percent. What is the annual operating cash flow for the worst-case scenario?

• $111,802

• $83,330

• $79,942

• $56,820

• $54,102