The Sports Club wants to expand its facility. The expansion will require $438,000 in building improvements that will be depreciated on a straight-line basis over a 20-year period. The expanded area is expected to generate $203,000 in additional sales. Variable costs are 60 percent of sales and the annual fixed costs are $13,600. The tax rate is 34 percent. What is the operating cash flow for the first year of this project?