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The Wet Corp. has an investment project that will reduce expenses by $20,000 per year...

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Accounting

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The Wet Corp. has an investment project that will reduce expenses by $20,000 per year for 3 years. The project's cost is $35,000. If the asset is part of the 3-year MACRS category ( 33.33% first year depreciation) and the company's tax rate is 38%, what is the cash flow from the project in year 1 ? (Do not round intermediate calculations. Round your answer to the nearest dollor amount.)

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