XYZ, Inc. is considering a new project requiring a $180,000 initial investment in equipment having a useful life of 3 years with zero expected salvage value. The investment will produce $130,000 in annual revenues and $90,000 in annual costs. Assume a tax rate of 30% and straight-line depreciation. What is the operating cash flow per year?

$46,000

$66,000

$70,000

$58,000

$88,000