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: Projected sales 16 million Operating costs (not including depreciation) $ 7 million Depreciation $ 5 million Interest expense $ 3 million The company faces a 25% tax rate. What is the project's cash flow for the first year (t = 1)? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Round your answer to the nearest dollar. = $ Net Salvage Value Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $9 million, of which 70% has been depreciated. The used equipment can be sold today for $3 million and Allen faces a 25% tax rate. What is the equipment's after-tax net salvage value? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar. $