(Related to Checkpoint 12.1) (Calculating operating cash flows) Assume that a new project will annually generate revenues of $1,800,000 and cash expenses (including both fixed and variable costs) of $1,200,000, while increasing depreciation by $170,000 per year. In addition, the firm's tax rate is 29 percent. Calculate the operating cash flows for the new project. The firm's operating cash flows are $ nearest dollar.) (Round to the