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The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service: -Projected sales$25

The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service:

-Projected sales$25 million

-Operating costs (not including depreciation)$13 million

-Depreciation$6 million

-Interest expense$3 million

The company faces a 40% tax rate. What is the project's operating cash flow for the first year (t = 1)? Write out your answer completely. For example, 2 million should be entered as 2,000,000.

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