A proposed expansion project is expected to increase sales by $79,000 and increase cash expenses by $36,000. The project will require $59,000 of fixed assets that will be depreciated using straight-line depreciation to a zero book value over the five-year life of the project. The store has a marginal tax rate of 24 percent. What is the operating cash flow of the project using the tax shield approach? Ignore bonus depreciation.

Instruction: Enter your response rounded to two decimal places.