A new project will generate sales of $$74$ million, costs of $$42$ million, and depreciation expense of $$10$ million in the coming year. The firm$$s tax rate is $30\%.$ Calculate the cash flow for the year using the following methods for dealing with depreciation.

a$.$ Method $1$: Dollars in minus dollars out.

b$.$ Method $2$: Adjusted accounting profits.

c$.$ Method $3$: Add back depreciation tax shield.

d$.$ If the discount rate is $12\%,$ what is the present value of the depreciation tax shield?