Consider the following facts about a company's new product: Anticipated incremental annual revenues $300,000 Anticipated incremental annual costs $100,000 Research and development spent previous $200,000 year Purchase of equipment to produce product $47,523 Shipping and installation of production $5,000 equipment Estimated resale value of equipment in three years $25,000 Expected useful life 3 years MACRS classification 5-year Marginal tax rate 22% Project cost of capital 14% What is the net cash flow for the first year of operations for this product? Report your answer to the nearest whole dollar