Fool Proof Software is considering a new project whose data are shown below. The equipment that would be used has a 3-year tax life. Under the new tax law, the equipment used in the project is eligible for 100% bonus depreciation, so it will be fully depreciated at t=0. Revenues and operating costs are expected to be constant over the project's 10 year expected life. What is the Year 1 cash flow? $33,177 $22,409 $48,750 $26,483 $22,991