(Calculating changes in net operating working capital)Tetious Dimensions is introducing a new product and has an expected change in net operating income of $795,000. Tetious Dimensions has a 36 percent marginal tax rate. This project will also produce $205,000 of depreciation per year. In addition, this project will cause the following changes in year 1:

Without the Project / With the Project

Accounts receivable: $50,000 / $84,000

Inventory: $97,000 / $181,000

Accounts payable: $65,000 / $119,000

What is the project's free cash flow in year 1?