Your company is considering the purchase of a new machine. The original cost of the old machine was R100 000; it is now five years old, and it has a current market value of R40 000. The old machine is being depreciated over a 10-year life toward a zero estimated salvage value on a straight-line basis, resulting in a current book value of R50 000 and an annual depreciation expense of R10 000. The old machine can be used for five more years but has no market value after its depreciable life is over. Management is contemplating the purchase of a new machine whose cost is R80 000 and whose estimated salvage value is zero. Expected before-tax cash savings from the new machine are R13 000 a year. Depreciation is computed using the straight-line method over a five-year life, and the cost of capital is 10 percent. Assume a 40 percent tax rate with SARS granting the same allowances. What will the year 1 operating cash flow for this project be?