You are considering opening another restaurant in the TexasBurgers chain. The new restaurant will have annual revenue of $334,800 and operating expenses of $167,400. The annual depreciation and amortization for the assets used in the restaurant will equal $55,800. An annual capital expenditure of $9,000 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

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