XYZ operates indoor tracks. The firm is evaluating the Santa Fe project, which would involve opening a new indoor track in Santa Fe. During year 1, XYZ would have total revenue of $179,000 and total costs of $78,800 if it pursues the Santa Fe project, and the firm would have total revenue of $147,000 and total costs of $72,000 if it does not pursue the Santa Fe project. Depreciation taken by the firm would be $75,400 if the firm pursues the project and $37,000 if the firm does not pursue the project. The tax rate is 46.00%. What is the relevant operating cash flow (OCF) for year 1 of the Santa Fe project that XYZ should use in its NPV analysis of the Santa Fe project?

		$39,128.00 (plus or minus $1)
		$13,928.00 (plus or minus $1)
		$31,272.00 (plus or minus $1)
		$45,200.00 (plus or minus $1)
		None of the above is within $1 of the correct answer