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Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.44 million. The fixed asset will be depreciated

Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.44 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life. The project is estimated to generate $1,696,000 in annual sales, with costs of $659,000. If the tax rate is 23 percent, what is the OCF for this project?

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