A firm is considering taking a project that will produce $15.5 million of revenue per year. Cash expenses will be $7.7 million, and depreciation expenses will be $1.7 million per year. If the firm takes that project, then it will reduce the cash revenues of an existing project by $1.6 million. What is the free cash flow on the project, per year, if the form is in the 40 percent marginal tax rate? $3.8 million $4.4 million $49 million $4.7 million