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A five-year project is expected to generate annual revenues of $90,000, variable costs of $45,000, and fixed costs of $10,000. The annual depreciation is $20,000

A five-year project is expected to generate annual revenues of $90,000, variable costs of $45,000, and fixed costs of $10,000. The annual depreciation is $20,000 and the tax rate is 20 percent. What is the annual operating cash flow?

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