The financial staff of Cairn Communications has identified the following information for the first year of the roll-out

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The financial staff of Cairn Communications has identified thefollowing information for the first year of the roll-out of its newproposed service: Projected sales $24 million Operating costs (notincluding depreciation) $9 million Depreciation $5 million Interestexpense $4 million The company faces a 25% tax rate. What is theproject's operating cash flow for the first year (t = 1)? Enteryour answer in dollars. For example, an answer of $1.2 millionshould be entered as $1,200,000.