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, and the allowed depreciation rates for such property are 33%, 45%, 15%, and 7% for Years 1 through 4. Revenues and other operating costs are expected to be constant over the project's 10-year expected life. What is the Year 1 cash flow? Equipment cost (depreciable basis) $68,000 Sales revenues, each year $60,000 $25,000 Operating costs (excl. depr.) 35.0% Tax rate a. $24,789 b. $36,113 c. $30,604 d. $33,052 e. $23,259 WA