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The XYZ Corporation expects to have sales of $ 1 5 million this year. Costs other than depreciation are expected to be 8 0 %

The XYZ Corporation expects to have sales of $15 million this year. Costs other than depreciation are expected to be 80% of sales, and depreciation is expected to amount to $1 million. XYZ is using $5 million debt at 10%. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. XYZ's federalplus-state tax rate is 30%. What is XYZ's expected cash flow from operations? (Assume no other changes occurred.)
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