Bluff approved a 4-year project that requires an initial investment of $48 million for the equipment and working capital of $3 million. The project will generate Sales of $32 million Operating Expenses of $2 million and Depreciation and Amortization charges of $12 million per year during the life of the project. The firm uses straight-line depreciation. At the end of the project, Bluff sets the book value to zero and the market value of the equipment to $3 million. The marginal tax rate for Bluff is 10%. What is the Free Cash Flow of the project in year 2? $16.20 million $28.20 million $25.38 million $26.51 million $31.02 million