A firm generates $10 million is sales per year. The annual cash costs associated with

generating those sales is $4.5 million. The firm also has equipment that is being

depreciated. The annual depreciation amount is $4 million per year.

The firm's tax rate is 22%. What are the annual operating cash flows generated by the firm?

Round all intermediate calculations to 6 decimal points. Your final answer should be

within $100 of the correct answer choice.

a. $1,170,000

b. $1,390,000

c. $5,170,000

d. $1,500,000