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The financial staff of cairn communications has identified

01/05/2021 Client: muhammad11 Deadline: 2 Day

The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service:
Projected sales ................................................... $18 million
Operating costs (not including depreciation) ................ $9 million
Depreciation ...................................................... $4 million
Interest expense ................................................... $3 million
The company faces a 40% tax rate. What is the project's operating cash flow for the first year (t = 1)?

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