Bennett Company has a potential new project that is expected to generate annual revenues of $250,400, with variable costs of $138,800, and fixed costs of $57,400. To finance the new project, the company will need to issue new debt that will have an annual interest expense of $18,000. The annual depreciation is $22,600 and the tax rate is 21 percent. What is the annual operating cash flow?

Multiple Choice

• $169,016

• $45,240

• $120,640

• $76,800

• $47,564