Fool Proof Software is considering a new project whose data are shown below. Revenues and operating costs are expected to be constant over the project's $10-$year expected life. What is the Year $1$ cash flow?

Sales revenues, each year $$98,000$

Operating costs $$30,000$

Tax rate $25\mathrm{.}0\%$

$$48,750$

$$51,000$

$$24,576$

$$26,419$

$$25,804$