CSUDH has prepared a project that generates the following expected cash flows (Numbers in the parenthesis indicate negative cash flows):

Year	0	1	2	3
Sales (Revenues)		$100,000	$100,000	$100,000
Cost of Goods Sold (50% of Sales)		($50,000)	($50,000)	($50,000)
Depreciation		($30,000)	($30,000)	($30,000)
EBIT
Taxes (35%)
Incremental earnings
Depreciation
CF from changes in net working capital		($5,000)	($5,000)	($5,000)
Capital expenditures	($90,000)

The FCFs for the first year of CSHDH's project is closest to ________.

	A.	$18,500
	B.	$53,200
	C.	$45,600
	D.	$38,000