Eisenhower Communications is trying to estimate the first-year cash flow (at Year 1) for a proposed project. The financial staff has collected the following information on the project: Sales revenues = $100,000 Operating costs (excluding depreciation) = $60,000 Depreciation = $10,000 Interest expense = $5,000 The company has a 40% tax rate, and its WACC is 10%. What is the projects cash flow for the first year (t = 1)?