Your new employer, Freeman Software, is considering a new project whose data are shown below. The equipment that would be used has a 3- year tax life, and the allowed depreciation rates for such property are 33%, 45%, 15%, and 7% for Years 1 through 4. Revenues and other operating costs are expected to be constant over the project's 10-year expected life. What is the Year 1 cash flow? Equipment cost (depreciable basis) Sales revenues, each year Operating costs (excl. deprec.) $85,000 $70,000 $20,000 40.0% Tax rate