Racin' scooters is introducing a new product and has an expected change in net operation income of $470,000. Racin' scooters has a 33 percent marginal tax rate. This project will also produce $97,000 of depreciation per year. In addition, this project will cause the following changes in year 1

without the project with the project

Account receivable $44,000 $68,000

Inventory 69,000 $75,000

Account 73,000 93,000

What is the project's free cash flow in year 1?

The free cash flow of the project in year 1 is $