Jefferson & Sons is evaluating a project that will increase annual sales by $90,000 and annual costs by $40,000. The project will initially require $145,000 in fixed assets that will be depreciated straight-line to a zero book value over the 10 year life of the project. The applicable tax rate is 34 percent. What is the operating cash flow for this project?

$35,500

$33,000

$23,430

$26,570

$37,930