You are considering opening another restaurant in the TexasBurgers chain. The new restaurant will have annual revenue of $356,400 and operating expenses of $178,200. The annual depreciation and amortization for the assets used in the restaurant will equal $59,400. An annual capital expenditure of $12,000 will be required to offset wear-and-tear on the assets used in the restaurant, but no additions to working capital will be required. The marginal tax rate will be 40 percent. Calculate the incremental annual after-tax free cash flow for the project. Incremental annual after-tax free cash flow $