Taylor United is considering overhauling its equipment to meet increased demand for its product. The cost of equipment overhaul is $4.12 million, plus $221,081,00 in installation costs. The firm will straight-line depreciate the equipment to zero using a 5-year recovery period. Additional sales from the overhaul should amount to $204,308.00 per year, and additional operating expenses and other costs (excluding depreciation) will amount to 35.00% of the additional sales. The firm has an ordinary tax rate of 40.00%. What is the operating cash flow for year 1 of this project? Answer format: Currency: Round to: 2 decimal places