Whitestone Products is considering a new project whose data are shown below. The required equipment has a 3-year tax life, and the accelerated rates for such property are 33.33%, 44.45%, 14.81%, and 7.41% for Years 1 through 4. Revenues and other operating costs are expected to be constant over the project's 10-year expected operating life. What is the project's Year 4 cash flow?

Equipment cost (depreciable basis)	$70,000
Sales revenues, each year	$42,500
Operating costs (excl. deprec.)	$25,000
Tax rate	35.0%

a. $13,190

b. $14,542

c. $12,531

d. $13,850

e. $11,904