You are preparing a discounted free cash flow analysis for XYZ Inc. For year 1 of the projection period XYZ Inc. expects EBITDA of $600,000, depreciation and amortization of $50,000, outstanding debt of $150,000, capital expenditures of $150,000, an increase in working capital of $25,000, 115,000 shares outstanding, cash of $15,000 and a tax rate of 25%.

What would be the free cash flow for XYZ Inc. in Year 1?