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eBook Project Cash Flow The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new

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eBook Project Cash Flow The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service: Projected sales $20 million Operating costs (not including depreciation) $10 million Depreciation $4 million Interest expense $3 million The company faces a 40% tax rate. What is the project's operating cash flow for the first year (t-1)? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Round your answer to the nearest dollar

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