Revenues generated by a new fad product are forecast as follows: Year and Revenues: Year 1= $68,808. Year 2= $40,000. Year 3= $20,000. Year 4= $10,000 and Thereafter 0. Expenses are expected to be 50% of revenues, and working capital required in each year is expected to be 20% of revenues in the following year. The product requires an immediate investment of $40,000 in plant and equipment that will be depreciated using the straight-line method over 5 years. The firm recently spent $2,000 on a study to estimate the revenues of the new product. The tax rate is 20%. What is the operating cash flow in year 1? Answer to nearest whole dollar amount. *please show formula how you calculated depreciation.