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Project Cash Flow The financial staff of Cairn Communications has identified the following information for the first year of the roll - out of its

Project Cash Flow
The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service:
\table[[Projected sales,$20 million],[Operating costs (not including depreciation),$9 million],[Depreciation,$4 million],[Interest expense,$3 million]]
The company faces a 25% tax rate. What is the project's operating cash flow for the first year
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