Vandelay Industries is considering a new project with a $8-$year life with the following cost and revenue data. This project will require an investment of $$140,000$ in new equipment. This new equipment will be depreciated down to zero over $8$ years using the simplified straight$-$line method and has no salvage value. This new project will generate additional sales revenue of $$122,000$ while additional operating costs, excluding depreciation, will be $$65,000.$ Vandelay's marginal tax rate is $35$ percent. What is the project's free cash flow in year $1?$The project's free cash flow in year $1$ is $$($Round to the nearest dollar.$)$