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A firm is considering a project with the following information:

Project will require purchase of a machine for $109,258.00 that is MACRS depreciable over a five-year schedule. (no depreciation until end of year 1).

Project will require immediate non-depreciable expenses of $29,433.00 TODAY (year 0).

Project will have the following projected balance sheet values of NWC:

YEAR	0	1	2
NWC Level	$4,000	8.00% of sales	10.00% of sales

Sales for the project will be $51,483.00 per year, with all other expenses (excluding depreciation) at 55.00% of sales.

The tax rate for the firm is 35.00%, while the cost of capital is 13.00%

*assume project goes beyond two years

What is the projects cash flow for year 2