A new project is expected to generate $1,500,000 in revenues, $550,000 in cash operating expenses, and depreciation expense of $300,000 in each year of its 10-year life. The corporation's tax rate is 21%. The project will require an increase in net working capital of $65,000 in the beginning and a decrease in net working capital of $65,000 in year ten. What is the free cash flow from the project in year one? $679,500 $813,500 $580,000 $576,500