(Related to Checkpoint 12.1) (Calculating operating cash flows) Assume that a new project will annually generate revenues of $1,900,000 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 32 percent. Calculate the operating cash flows for the new project. The firm's operating cash flows are $ (Round to the nearest dollar.) 01