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Reliable Software is considering a new project whose data are shown below.

Reliable 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 MACRS 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 life. What is the
project's operating cash flow during Year 1?

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