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A new project is expected to generate $ 8 8 9 , 0 1 0 in revenues, $ 2 8 5 , 8 3 0

A new project is expected to generate $889,010 in revenues, $285,830 in cash operating expenses, and depreciation expense of $157,893 in each year of its 9-year life. The corporation's tax rate is 22%. The project will require an increase in net working capital of $86,206 at the outset and a decrease in net working capital of $70,962 in year 9. What is the operating free cash flow from the project in the first year, to the nearest dollar?

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