A firm is considering a project with the following information:

Project will require purchase of a machine for $$116,781\mathrm{.}00$ that is MACRS depreciable over a five$-$year schedule.

depreciation until end of year $1).$

Project will require immediate non$-$depreciable expenses of $$27,613\mathrm{.}00$ TODAY $($year $0).$

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

YEAR

NWC Level

$0$

$$4,000$

$1$

$9\mathrm{.}00\%$ of sales

$2$

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

Sales for the project will be $$47,481\mathrm{.}00$ per year, with all other expenses $($excluding depreciation$)$ at $53\mathrm{.}00\%$ of

sales.

The tax rate for the firm is $36\mathrm{.}00\%,$ while the cost of capital is $12\mathrm{.}00\%$

$*$assume project goes beyond two years

What is the project's cash flow for year $2?$