Eisenhower Communications is trying to estimate cash flows for a proposed project. The following information has been collected on the project:

Equipment cost	$10,000
Working capital investment	$2,000
Revenue	$10,000
Operating Expense (excluding depreciation)	$6,000
Interest expense	$2,000
Tax Rate	40%
Salvage value	$4,000
Project lifespan	4 years

Year	Depreciation Rate
1	33%
2	45%
3	15%
4	7%

Saved

The initial investment outlay or cash flow at the start of the project (time 0) is:

options:

	($4,000)
	($8,000)
	($12,000)
	($10,000)