1. Paddleboards Inc. has developed a new, lighter paddleboard that has a 6-year life expectancy. The project will require an initial investment of $76,000 that will be depreciated straight line to zero over the life of the product. The product can be sold for $46.00/unit with a manufacturing cost of $17.00/unit; any additional costs are fixed costs in amount of $24,000 per year (excluding depreciation). The firm expects to sell 12,700 units of the product per year. What is the annual cash flow from operations? Assume a required rate of return of 9.00% and a corporate tax rate of 30%. a. $235,943 b. $232,143 c. $244,810 d. $241,010 e. $253,677