that ra you 72-2 PROJECT CASH FLOW Colsen Communications is trying to estimate the first-year cash flow (at Year 1) for a proposed project. The assets required for the project were fully depre- ciated at the time of purchase. The financial staff has collected the following information on the project: $15 million Sales revenues Operating costs 13.5 million 1 million Interest expense The company has a 25% tax rate, and its WACC is 11%. a. What is the project's cash flow for the first year (t = 1)? b. If this project would cannibalize other projects by $0.5 million of cash flow before taxes per year, how would this change your answer to part a