Assume that a new project will annually generate revenues of

$1,900,000

and cash expenses (including both fixed and variablecosts) of

$500,000,

while increasing depreciation by

$140,000

per year. In addition, the firm's tax rate is

31

percent. Calculate the operating cash flows for the new project.

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Part 1

The firm's operating cash flows are

$enter your response here.

(Round to the nearest dollar.)