Grady Precision Measurement Tools has forecasted the following sales and costs for a new GPS system for year X: annual sales of 40,000 units at $20 a unit, production costs at 37% of sales price, fixed costs for production at $140,000, interest expense of $20,000 and straight-line depreciation expense of $190,000 per year. The company tax rate is 35%. a) What is the annual free cash flow of the new GPS system in year X