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(Related to Checkpoint 12.1) (Calculating operating cash flows) Assume that a new project will annually generate revenues of $2,300,000 and cash expenses (including both fixed

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(Related to Checkpoint 12.1) (Calculating operating cash flows) Assume that a new project will annually generate revenues of $2,300,000 and cash expenses (including both fixed and variable costs) of $900,000, while increasing depreciation by $250,000 per year. In addition, the firm's tax rate is 28 percent. Calculate the operating cash flows for the new project. C The firm's operating cash flows are $ (Round to the nearest dollar.)

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