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A company is trying to estimate the first-year cash flow (at Year 1) for a proposed project. The financial staff has collected the following information

A company is trying to estimate the first-year cash flow (at Year 1) for a proposed project. The financial staff has collected the following information on the project:

Sales $18.8 million
Optg costs (Excluding Depreciation) $11.1 million
Depreciation $2.4 million
Interest Expense $1.6 million

The company has a 40% tax rate, and its WACC is 11%. What is the project's cash flow in year 1? Express your answer in millions and round to the nearest decimal place. (For example, if you answer is $13.26 million, enter 13.3)

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