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Assume that a new project will annually generate revenues of $ 1 , 8 0 0 , 0 0 0 and cash expenses (including both

Assume that a new project will annually generate revenues of
$1,800,000
and cash expenses (including both fixed and variable costs) of
$1,100,000,
while increasing depreciation by
$240,000
per year. In addition, the firm's tax rate is
29
percent. Calculate the operating cash flows for the new project.

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