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Your marketing and operations teams have put together the following projections for the first year of The Executive Beltless Raincoats project: Year o Year 1

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Your marketing and operations teams have put together the following projections for the first year of "The Executive" Beltless Raincoats project: Year o Year 1 Revenue 200 Cost of Goods Sold 60 SG&A 40 Depreciation 20 Capital Expenditure 100 50 Balance sheet (levels): Inventory 50 70 Accounts payable 20 30 If the corporate tax rate is 25%, what is the project's expected free cash flow in Year 1

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