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A three-year project is expected to generate revenues of $600,000, variable costs of $100,000, and fixed costs of $300,000. The annual depreciation is $120,000 and

A three-year project is expected to generate revenues of $600,000, variable costs of $100,000, and fixed costs of $300,000. The annual depreciation is $120,000 and the tax rate is 25 percent. What is the annual operating cash flow?

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