Phoenix Manufacturing, Inc. is considering a new five-year expansion project that requires an initial fixed asset investment of $6.089 million. The fixed asset will be depreciated straight-line to zero over the project's life, after which time it will be worthless. The project is estimated to generate $4,389.000 in annual sales, with costs of $1,731,200. The tax rate is 24 percent. What is the annual operating cash flow for this project? Multiple Choice $1,727,570 $2,848,315 O O $2,312,200 O $936,000 O $1211407 C