A firm is considering a project with the following information:

• Project will require purchase of a machine for $113,452.00 that is MACRS depreciable over a five-year schedule. (no depreciation until end of year 1).
• Project will require immediate non-depreciable expenses of $27,934.00 TODAY (year 0).
• Project will have the following projected balance sheet values of NWC:

YEAR	0	1	2
NWC Level	$4,000	9.00% of sales	10.00% of sales

• Sales for the project will be $46,098.00 per year, with all other expenses (excluding depreciation) at 55.00% of sales.
• The tax rate for the firm is 37.00%, while the cost of capital is 12.00%

*assume project goes beyond two years

What is the projects cash flow for year 1?

A firm is considering a project with the following information: . Project will require purchase of a machine for $113,452.00 that is MACRS depreciable over a five-year schedule. (no depreciation until end of year 1). Project will require immediate non-depreciable expenses of $27,934.00 TODAY (year 0). Project will have the following projected balance sheet values of NWC: . YEAR 0 1 2 NWC Level $4,000 9.00% of sales 10.00% of sales Sales for the project will be $46,098.00 per year, with all other expenses (excluding depreciation) at 55.00% of sales. The tax rate for the firm is 37.00%, 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