Operating cash flow (growing each year; MACRS).Mathews Mining Company is looking at a project that has the following forecasted sales: first-year sales are 6,600

units, and sales will grow at 13% over the next four years (a five-year project). The price of the product will start at $121 per unit and will increase each year at

7%. The production costs are expected to be 61% of the current year's sales price. The manufacturing equipment to aid this project will have a total cost (including installation) of

$1,600,000. It will be depreciated using MACRS,

Year	3-Year	5-Year	7-Year	10-Year
1	33.33%	20.00%	14.29%	10.00%
2	44.45%	32.00%	24.49%	18.00%
3	14.81%	19.20%	17.49%	14.40%
4	7.41%	11.52%	12.49%	11.52%
5		11.52%	8.93%	9.22%
6		5.76%	8.93%	7.37%
7			8.93%	6.55%
8			4.45%	6.55%
9				6.55%
10				6.55%
11				3.28%

and has a seven-year MACRS life classification. Fixed costs will be $52,000

per year. Mathews Mining has a tax rate of 35%. What is the operating cash flow for this project over these five years?