You are provided with the projected income statements for a project:

Year	1	2	3	4
Revenues	$ 10,000	$ 11,000	$ 12,000	$ 13,000
(-) Cost of Goods Sold	$ 4,000	$ 4,400	$ 4,800	$ 5,200
(-) Depreciation	$ 4,000	$ 3,000	$ 2,000	$ 1,000
(=) EBIT	$ 2,000.00	$ 3,600.00	$ 5,200.00	$ 6,800.00

The tax rate is 40%.

The project required an initial investment of $15,000 and an additional investment of $2,000 at the end of year two.

The working capital is anticipated to be 10% of revenues, and the working capital investment has to be made at the beginning of each period.

a. Estimate the free cash flow to the firm for each of the four years.