QUESTION 19 The Rare Find Co. has the following information: Debt outstanding: $550 million The before-tax cost of debt: 4% Market cap: $1,300 million Cost of common stock: 9% Tax rate: 21% Rare Find is evaluating a project with the following information: Over the next five years, EBIT will equal 30 million each year An investment of $50 million is required in net working capital at the beginning of the project, which will be recovered a the end of the project. The cost of the equipment will be $100 million depreciated using straight-line to zero over the project's life, with no salvage value. The project requires an additional 2% risk premium above the firm's WACC. Calculate the operating cash flows for the first year of the project. (Enter the full value, e.g. 5 million as 5,000,000)