Kenora Industries is analyzing a new project. They have gathered the following data: Worst Case Base Case Best Case Sales quantity 8,500 9,000 9,500 Sales price per unit $9.25 $9.75 $10.25 Variable cost per unit $4.90 $5.10 $5.50 Fixed cost $14,000.00 $17,000.00 $20,000.00 Initial requirement for equipment: $140,000 Depreciation: Straight-line to zero over the four-year life of the project with no salvage value. Required rate of return: 15% Marginal tax rate: 35% What is the operating cash flow under the base-case scenario? $32,777 $26,433 $24,678 $31,402 $28,403