A firm is considering taking a project that will produce $12 million of revenue per year. Cash expenses will be $5 million and depreciation expenses will be $1 million per year. If the firm takes that project, then it will reduce the cash revenues of an existing project by $4 migion. What is the free cash flow on the project, per year. If the firm is in the 40 percent marginal tax rate? $2.2 million $2.8 million $3.1 million $3.4 million