Cielo Corp uses a WACC to discount its cash flows. Next year it expects to have earnings before interest and taxes (EBIT) of $45 million, interest expenses of $3 million , depreciation expenses of $2 million, capital expenditures of $12 million and expects to increase its net working capital by $400,000 . If its tax rate is 35%. What free cash flow should it record for next year in its discounted cash flow analysis?