Suppose you are evaluating a project to produce the Ultimate recreational tennis rackets. You estimate that the sales to be $$400,000$ each year for the next three years. In addition, you figure that the project has a life of $3$ years. The variable costs per year amount to $65\%$ of the sales. The project requires an initial capital investment of $$105,000$ which will be depreciated straight line to zero over the three$-$year life of the project $($i$.$e$.\frac{1}{3},\frac{1}{3},$ and $\frac{1}{3}).$ The tax rate is $34\%.$ Calculate the after$-$tax operating cash flows for the first year at $t=1.$

$$505,000$

$$140,000$

$$105,000$

$$104,300$

$$69,300$