Year $1$

Revenues $$100,000$

COGS $$60,000$

Gross Profits $$40,000$

SG&A Expenses $$5,000$

Depreciation $$12,000$

EBIT $$23,000$

Taxes $(21\%)\_\_\_\_\_\_\_$

NOPAT $\_\_\_\_\_\_\_$

Depreciation $$12,000$

OCF $\_\_\_\_\_\_\_$

$$

Refer to the pro$-$forma income statement for a proposed project above.

$$

What are the taxes with regard to the project?