(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 $600,000, while increasing depreciation by $180,000 per year. In addition, the firm's tax rate is 36 percent. Calculate the operating cash flows for the new project. The firm's operating cash flows are $ . (Round to the nearest dollar.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Check