1. As a member of Midwest Corporations financial staff, you must estimate the Year 1 operating cash flow for a proposed project with the following data. What is the Year 1 net operating cash flow taking capital cost allowance into consideration ? (3 points)

Sales revenues, each year	$ 35,000
Capital cost allowance	$10,000
Cash operating costs	$17,000
Interest expense	$ 4,000
Tax rate	35.0%