Taylor United is considering overhauling its equipment to meet

increased demand for its product. The cost of equipment overhaul is

$$3\mathrm{.}85$ million, plus $$237,955\mathrm{.}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 $$215,932\mathrm{.}00$ per year, and additional operating expenses and

other costs $($excluding depreciation$)$ will amount to $39\mathrm{.}00\%$ of the

additional sales. The firm has an ordinary tax rate of $38\mathrm{.}00\%.$ What

is the operating cash flow for year $1$ of this

project?$$Answer format:$$Currency:

Round to: $2$ decimal places.