A firm is considering the purchase of a machine which would represent an investment of $37 million, and would be depreciated in a straightline basis over 5 years. Sales are expected to be $10 million per year, and operating costs 24% of sales. The company is currently paying $3 million in interest per year, has a tax rate of 40%, and a WACC of 10%. What is the companys free cash flow for year 1 of this project?

Answer is 7.5 I need steps