A firm is considering a project with the following information: Project will require purchase of a machine for $94,567.00 that is MACRS depreciable over a five-year schedule. (no depreciation until end of year 1). Project will require immediate non-depreciable expenses of $29,558.00 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 8.00% of sales . Sales for the project will be $57,243.00 per year, with all other expenses (excluding depreciation) at 40.00% of sales. The tax rate for the firm is 40.00%, while the cost of capital is 12.00% '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