Clemson Software is considering a new project whose data are shown below. The required equipment has a 3-year tax life, after which it will be worthless, and it will be depreciated by the straight-line method over 3 years. Revenues and other operating costs are expected to be constant over the project's 3-year life. What is the project's Year 1 cash flow? Do not round the intermediate calculations and round the final answer to the nearest whole number.

Equipment cost (depreciable basis)	$100,000
Straight-line depreciation rate	33.333%
Sales revenues, each year	$60,000
Operating costs (excl. depr.)	$25,000
Tax rate	35.0%

a. $42,333

b. $29,943

c. $34,417

d. $37,858

e. $32,008