Your firm is considering a new capital budgeting project. The equipment will cost $16,000,000. It will be depreciated by the straight-line method over four years, and the useful life of the project is also estimated to be four years. You expect annual sales to be $15,250,000. Fixed Costs are estimated at $3,250,000 and variable costs should be 45% of sales. Your firm faces a 30% marginal tax rate. Given these assumptions, estimate the annual operating cash flow the project will generate over its four-year life. $3,691,250 $4,796,250 $3,595,250 $796,250