40. A five-year project is expected to generate revenues of $120,000, variable costs of $72,000, and fixed costs of $20,000. The annual depreciation is $10,000 and the tax rate is 34%. What is the annual operating cash flow? $11,880 $18,480 $21,880 $24,480

40. A five-year project is expected to generate revenues of $120,000, variable costs of $72,000, and fixed costs of $20,000. The annual depreciation is $10,000 and the tax rate is 34%. What is the annual operating cash flow?

$11,880

$18,480

$21,880

$24,480

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