A firm is considering a project with the following information:

Project will require purchase of a machine for $$96,218\mathrm{.}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 $$27,140\mathrm{.}00$ TODAY $($year $0).$

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

YEAR

$0$

$$4,000$

$$4,000$

NWC Level

$1$

$10\mathrm{.}00\%$ of sales

$2$

$10\mathrm{.}00\%$ of sales

Sales for the project will be $$52,037\mathrm{.}00$ per year, with all other expenses $($excluding depreciation$)$ at $44\mathrm{.}00\%$ of

sales.

The tax rate for the firm is $37\mathrm{.}00\%,$ while the cost of capital is $13\mathrm{.}00\%$

$*$assume project goes beyond two years

What is the project's cash flow for year $1?$

Answer format: Currency: Round to: $2$ decimal places.