The Wet Corp. has an investment project that will reduce expenses by $20,000 per year for 3 years. The project's cost is $35,000. If the asset is part of the 3-year MACRS category (33.33% first year depreciation) and the company's tax rate is 37%, what is the cash flow from the project in year 1? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)

A)$16,366

B)$18,376

C)$17,696

D)$16,916