Taylor Inc., the company you work for, is considering a new project whose data are shown below. What is the project's Year 1 Net Operating Cash Flow?

Sales revenues, each year	$62,500
Depreciation	$8,000
Other operating costs	$25,000
Interest expense	$8,000
Tax rate	35.0%

Net Operating CF =EBIT * (1-Tax) +Dep

EBIT = Sales - Costs - Dep