$($Calculating free cash flows$)$ Vandelay Industries is considering a new project with a $8-$year life with the following cost and revenue data. This project will require an investment of $$100,000$ in new equipment. This new equipment will be depreciated down to zero over $8$ years using the simplified straight$-$line method and has no salvage value. This new project will generate additional sales revenue of $$122,000$ while additional operating costs, excluding depreciation, will be $$66,000.$ Vandelay's marginal tax rate is $32$ percent. What is the project's free cash flow in year $1?$

The project's free cash flow in year $1$ is $ $($Round to the nearest dollar.$)$