Consider a project with an initial investment of $50,000 and a 5 year life. Project inflows are $25,000 each year and project outflows are $13,000 each year. Depreciation is calculated on a straight line method. If the cash flow in Year 1 is $11,400, what is the tax rate?

		25%
		45%
		20%
		40%
		30%
		35%